CHAPTER-9
MSME & BUSINESS ENTREPRENEURSHIP
I Choose and write the correct answer:
1. A small unit is defined as an industrial or business enterprise whose investment in
plant and machinery is not more than
a. 1 crore b. 10 crore
c. 25 crore d. 50 crore
2. How many years does a patent allows exclusive rights to the inventor?
a. 10 years b. 15 years
c. 20 years d. 25 years
3. Recipe of Coca Cola comes under which type of Intellectual Property Right?
a. Trade secret b. Patent
c. Copyright d. Design
4. Which of the following are considered for protection as trademarks in some parts
of the world but not recognised as trademarks in India?
a. Smell & Taste b. Logo
c. Label d. Colour combination
5. The term of protection of a design is valid for
a.20 Years b.15 Years
c.10 Years d.5 Years
II Fill in the blanks by choosing appropriate answers from those given in the
brackets
(Plant variety, Licensing, temporary, one crore, design)
1. Micro enterprises are those whose investment in plant & machinery does not
exceed rupees_ ___________________.
2. Patent creates a __________________ monopoly.
3. ______________ is the process of seeking exclusive rights of the patentee for fees.
4. A ___________ comes in public domain after the expiry of validity period.
5. _________________ is grouping of plants into categories based on their botanical
characteristics.
III Match the following :
A B
a. Entrepreneurship i. An entrepreneurial venture
b. Copyright ii. Scientific Innovations
c. Patent iii. Setting up one’s own business
d. Geographical Indications iv. Not to Copy
e. Startup v. Darjeeling Tea
IV Answer the following questions in one word or one sentence each:
1. Expand MSME.
2. In which year MSMED Act was enacted?
3. How many subgroups are there in MSME?
4. Name any two subgroups of MSME.
5. State the turnover limit for micro enterprises.
6. State the investment limit for medium enterprises.
7. State the turnover limit for small enterprises.
8. Expand IPR.
9. Which repository has been designed by Indian Government to safe and wrongful
patenting of our traditional knowledge?
10. Aayush is a great artist. He wants that none of his paintings should be copied
without his permission. What he should do to this?
11. State the objective of Startup India scheme.
12. What is Trade Secret?
V Answer the following questions in 2 or 3 sentences each. Each question carries 2
marks.
1. State any two parameters used to measure size of the business in case of small
business.
2. A micro small scale industry has investment of 95 lakhs and engaged in
manufacturing business. Now, it wants to increase its investment by 20 lakhs.
a)What type of small business will it become?
b)What is the maximum investment limit in such cases?
3. What are village industries?
4. Give the meaning of Intellectual Property.
5. State the two broad categories of intellectual property.
6. Mention any two types of intellectual property.
7. What is a ‘Design’?
8. State any two benefits of plant variety.
VI Answer the following questions in 10 to 12 sentences each. Each question carries 4
marks.
1. ‘Small Scale Industries contribute to the economic development of the country’.
Justify this statement with any four points highlighting the role of small business in
India.
(OR)
Briefly explain the role of small business in India with any four points.
2. Explain in brief any four problems faced by small businesses.
(OR)
Small Scale Industries are at a distinct disadvantage compared to large scale
industries. In the light of the above statement, explain any four problems faced by
small businesses.
3. Explain in brief any four characteristics of entrepreneurship.
4. Explain briefly any four types of Intellectual Property Rights.
