Class 11 Business Studies Important Chapter 9 MSME and Business Entrepreneurship

Class 11 Business Studies Important Chapter 9 MSME and Business Entrepreneurship Solutions English Medium As Per AHSEC New Syllabus to each chapter is provided in the list so that you can easily browse through different chapters ASSEB Class 11 Business Studies Important Solutions and select need one. AHSEC Class 11 Business Studies Additional Notes English Medium Download PDF. HS 1st Year Business Studies Important Solutions in English.

Class 11 Business Studies Important Chapter 9 MSME and Business Entrepreneurship

Also, you can read the NCERT book online in these sections Solutions by Expert Teachers as per Central Board of Secondary Education (CBSE) Book guidelines. ASSEB Class 11 Business Studies Additional Question Answer are part of All Subject Solutions. Here we have given HS 1st Year Business Studies Important Notes in English for All Chapters, You can practice these here.

MSME and Business Entrepreneurship

Chapter: 9

Part – II: Corporate Organisation, Finance and Trade

IMPORTANT QUESTION AND ANSWER

Short Questions and Answers

1. Define MSME.

Ans: MSME stands for Micro, Small, and Medium Enterprises. It is a sector that includes industries based on investment and turnover limits as defined by the MSMED Act, 2006. MSMEs contribute significantly to India’s GDP, exports, and employment generation.

2. What is the role of MSME in rural development?

Ans: MSMEs promote rural industrialisation, generate employment locally, use local resources, prevent urban migration, and help in balanced regional development by setting up industries in rural and backward areas.

3. State two types of village industries.

Ans: Khadi industries and coir industries are two types of village industries as per the definition given by the government of India.

4. Mention two problems faced by MSMEs in marketing.

Ans: MSMEs depend on middlemen for marketing due to lack of infrastructure and expertise. They also suffer from delayed payments and low pricing by middlemen.

5. State two characteristics of entrepreneurship.

Ans: Entrepreneurship is a systematic and purposeful activity. It involves innovation, risk-taking, and organising production to create value.

6. Why is quality a major problem in MSMEs?

Ans: MSMEs often compromise on quality to reduce costs. They lack resources for quality research and upgradation, leading to weak competition in global markets.

7. What do you mean by cottage industries?

Ans: Cottage industries are traditional industries generally operated from homes using family labour and traditional techniques. They are not defined by investment criteria.

8. Write two benefits of Intellectual Property Rights (IPR) for entrepreneurs.

Ans: IPR protects innovations from misuse and offers exclusive rights to inventors. It encourages creativity, rewards innovation, and helps monetise inventions.

9. Name any four types of Intellectual Property Rights.

Ans: Patent, Trademark, Copyright, and Geographical Indication.

10. Define Patent.

Ans: A patent is an exclusive right granted to an inventor to prevent others from making, using, selling, or distributing the invention without permission for a specified period, usually 20 years.

11. How does MSME contribute to exports?

Ans: MSMEs contribute approximately 49.66% of total Indian exports by producing various goods like textiles, handicrafts, leather products, and electronic items.

12. Why are MSMEs considered labour-intensive?

Ans: MSMEs require more human resources than machines, providing employment to a large population with limited capital investment.

13. State two problems faced by MSMEs in acquiring raw materials.

Ans: MSMEs face irregular supply of raw materials and higher costs due to small purchase quantities and low bargaining power.

14. Explain Geographical Indication (GI) with example.

Ans: GI is a sign used on products having specific geographical origin and qualities. Example: Darjeeling Tea and Banarasi Sarees.

15. What are trade secrets?

Ans: Trade secrets are confidential business information that provides a company with a competitive edge, such as Coca-Cola’s secret formula.