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(a) Small and Medium Enterprises

(b) Gateway of Tamil Nadu

MNCs such as Nokia, Foxconn, Samsung and Flextronics.

(b) Decreasing

MEPZ is a special Economic zone Chennai.

(a) Agriculture

TIDCo is another government agency to establish Industrial estates.

1. SIPCOT – State Industries Promotion Corporation of Tamil Nadu. 

2. TANSIDCO – Tamil Nadu Small Industries Development Corporation. 

3. TIDCO – Tamil Nadu Industrial Development Corporation 

4. TIIC – Tamil Nadu Industrial Investment Corporation Limited. 

5. TANSI – Tamil Nadu Small Industries Corporation Limited.

Correct Answer is: (c) TIDCO

As an economy grows and incomes increase, consumers tend to spend a lesser share of their income on products from the agricultural sector. There are limits to the ability of agriculture to absorb labour due to the declining marginal productivity of land. Due to this, there is a need for an economy’s production and employment base to diversity away from agriculture.

(c) Knitwear

Correct Answer is: (a) Chennai

Correct Answer is: (c) MEPG

(b) (i), (ii), (iii) are correct

A. (iv) 

B. (i) 

C. (v) 

D. (ii) 

E. (iii)

Role of an Entrepreneur: Entrepreneurs play a most important role in the economic growth and development of a country’s economy.

1. They promote development of industries and help to remove regional disparities by industrialising rural and backward areas. 

2. They help the country to increase the GDP and Per Capita Income. 

3. They contribute towards the development of society by reducing concentration of income and wealth. 

4. They promote capital formation by mobilising the idle savings of the citizens and country’s export trade. 

5. Entrepreneurs provide large-scale employment to artisans, technically qualified persons and professionals and work in an environment of changing technology and try to maximise profits by innovations.

6. They enable the people to avail better quality goods at lower prices, which results in the improvement of their standard of living.

Entrepreneur is the person one who possess management skills, strong team building abilities and essential leadership qualities to manage a business.

A. (iii) 

B. (i) 

C. (iv) 

D. (v) 

E. (ii)

1. Industries contribute by producing inputs such as fertilizers and tractors to agriculture thereby help them to increase productivity. 

2. Services like Banking, transport and trade are dependent on the production of Industrial goods. 

3. By using modem methods of production Industries contribute to better productivity and hence lower cost of production: 

4. Industries helps to absorb the labour force coming out of agriculture.

5. By using modem technology, labour productivity increases, which help workers to get higher wages. 

6. Increased income of the people lead to more demand for goods and services. 

7. By producing more Industrial products, exports increases, thereby generate more foreign exchange.

1. Industrialisation 

2. Industrial Clusters 

3. Vellore 

4. Sivakasi 

5. April 2000 

6. Entrepreneur

(b) Bharmapuri

Entrepreneurship is a process of an action of an entrepreneur who undertakes to establish his entreprise. It is the ability to create and build something.

The conversion of raw materials into usable materials is called as Industry.

(d) all are correct

(d) (i) and (iii) is correct

B) Temporary shelters of the migrants

Types of Industries:

On the basis of

Uses: Consumer goods Industries ⇒ output to the final consumer 

Capital goods Industries ⇒ output consumed by another producer.

Basic goods Industries ⇒ output as the raw material for other Industries.

Raw material:

Agricultural sector 

Industrial sector 

Agro based sector 

Leather Industries

Ownership:

Public owned ⇒ Government owned

Private owned ⇒ Private owned Co-operative owned

Size:

Large scale Industries 

Small scale Industries

Medium scale Industries 

Micro (or) tiny

It is a scheme launched by the Indian Government to facilitate bank loans between ₹ 10 lakh and ₹ 1 crore to atleast one scheduled caste (or) scheduled Tribe borrower and one woman borrower per bank branch for setting up a greenfield enterprise

Entrepreneurs promote capital formation by mobilising the idle savings of the citizens and increasing country’s exports.

It is a scheme launched by the Indian Government with the primary objective of generation employment and wealth creation.

Mehta has defined Economics as a science which studies human behaviour as a means to achieve the end of wantlessness.

D) Temporary shelters of the migrants

Information Technology: The use of electronic processes for gathering and storing information and making it available using computers.

IT (Information Technology) Specific Special Economic Zones are located in 8 locations in Tamil Nadu.

Correct Answer is: (c) Leather

A successful industrial cluster entirely created by the Tamil Nadu is Hosur.

(a) Adam Smith

(A) Developing

Correct option is A) 50 – 100

Since the early 1990s there has been tremendous change in the communication technology.

Correct Answer is: (a) 1950

The following are the chief characteristics of a successful cluster.

1. Geographical proximity of Small and Medium Enterprises (SMEs) 

2. Sectoral specialisation 

3. Close inter firm collaboration 

4. Inter – firm competition based on innovation 

5. A Socio – Cultural Identity which facilitates trust. 

6. Multi – skilled workforce 

7. Active self – help organisations and

8. Supportive regional and municipal governments.

9. Through Competition, they are forced to become more efficient.

(b) study of economic welfare

• Foreign direct investment will definetly help the farmers in long run. 
• It is argued that there will be loss of jobs in traditional, smaller retail sector. 
• However, the purchases by the big supermarkets will increase demand for agricultural products, which in turn will expand agricultural output, which in turn may increase demand for labour.
•  This will increase wages in the long run.

a) Wholesale and retail trade 

b) 1. Washing and dry cleaning work 

2. Beauty treatment 

3. Tailoring work 

4. Barbour work (Hair cutting) 

5. Who runs the photo studio. 

c) Transport, storage and communications. 

d) Finance, insurance, real estate etc

C) Metropolitan cities

The following are the subsidiaries of SIDBI that provides financial and non-financial services:

(i) SIDBI Venture Capital Ltd. provides venture capital to emerging sectors, such as life sciences, biotechnology, pharmaceuticals, engineering and information technology.

(iii) SME Rating Agency of India Ltd. was set up by SIDBI, Dum & Brandstreet Information Services India Pvt. Ltd. and several public, private and foreign sector banks as an MSME. It is dedicated third-party rating agency and provide comprehensive, transparent and reliable ratings and risk profiling.

(iv) India SME Technology Services Limited is a platform where MSME’s can tap global opportunities for acquiring new emerging technologies and establish business collaborations.

(v) India SME Asset Reconstruction Company Ltd. is an asset reconstruction company. It acquires non-performing assets and try to resolve them through its innovative mechanisms. It specially focus on the nonperforming assets of MSME sector.

(vi) Micro Units Development and Refinance Agency is established for ‘funding the unfunded’ micro enterprises in the country. 

(vii) Thus, SIDBI provides different types of financial and non-financial services through its subsidiaries.

Correct option is (c) 2

SIDBI provides refinance to Banking and NonBanking Financial Comnanies.