CMAT 2023 Slot 2 Questions Paper

The full form of EPCG is "Export Promotion Capital Goods." EPCG is a scheme introduced by the Government of India to promote the import of capital goods to enhance the export competitiveness of Indian industries. Under the EPCG scheme, eligible exporters can import capital goods at concessional customs duty rates or even duty-free, subject to certain export obligations. The scheme aims to facilitate acquiring advanced technology and machinery by Indian exporters to improve their manufacturing capabilities and enhance export performance.

The primary focus of the SMILE (SIDBI Make in India Soft Loan Fund for MSMEs) loan of SIDBI is option B) To meet the debt-equity ratio of a unit or to help in its growth and expansion. The SMILE loan scheme aims to provide financial assistance to Micro, Small, and Medium Enterprises (MSMEs) in India to help them meet their debt-equity ratio requirements and support their growth and expansion plans. It helps MSMEs in accessing affordable and flexible financing options to meet their working capital needs, purchase machinery and equipment, and expand their business operations.

The term "entrepreneur" refers to option B) to undertake. An entrepreneur is an individual who takes the initiative and assumes the risk of starting and managing a business venture. They identify opportunities, organize resources, and create and implement innovative ideas to establish and grow a successful business. Entrepreneurship involves the process of recognizing a business opportunity, developing a business plan, acquiring the necessary resources, and taking the necessary actions to establish and run a business. While an entrepreneur may struggle, invent, or motivate as part of their entrepreneurial journey, the fundamental meaning of "entrepreneur" is someone who undertakes entrepreneurial activities.

An entrepreneur who is the owner of more than one business is called option A) Portfolio entrepreneur. A portfolio entrepreneur is an individual who manages multiple businesses or ventures simultaneously. They may have ownership stakes in different companies or may have started and established multiple businesses themselves. Portfolio entrepreneurs are skilled at diversifying their business interests and managing multiple enterprises concurrently. They often leverage their knowledge, experience, and network across their various businesses to maximize their entrepreneurial endeavors.

The start-up loans offered by MUDRA (Micro Units Development and Refinance Agency) banks to small enterprises, non-corporate businesses, and non-farm small/micro enterprises have a limit of Rs 10 lacs (10,00,000) as per the MUDRA loan categories

Option B is correct

The BRIC countries are a grouping acronym that represents four major emerging economies: Brazil, Russia, India, and China.

Option B is correct.

Entrepreneurship can best be described as:

D) A process involving innovation and value creation.

Entrepreneurship is not limited to simply setting up a business or taking significant risks, although those elements can be part of the entrepreneurial process. At its core, entrepreneurship involves identifying opportunities, developing innovative ideas, and creating value by introducing new products, services, or business models. Entrepreneurs often take risks, but their primary focus is on creating something new, bringing about change, and capturing opportunities in the marketplace.

Having a strong vision can be a characteristic of entrepreneurship, but it is not a comprehensive description of the concept. Entrepreneurship encompasses a broader process of identifying, evaluating, and pursuing opportunities through innovation and value creation.

Therefore, option D) A process involving innovation and value creation, is the most accurate description of entrepreneurship.

A person who improves an existing business is often referred to as an "intrapreneur." (Option D)

The legal term for brand is C) Trademark.

A) Patent: Legal protection for new inventions or innovations.

B) License: Permission to use someone else's intellectual property.

D) TOM: This option is not a recognized legal term in the context of brand or intellectual property.

The theory that involves taking a moderate amount of risk as a function of skill and not chance is the "Need for Achievement" theory, option A. The Need for Achievement theory, proposed by psychologist David McClelland, suggests that individuals with a high need for achievement are motivated by the desire to excel, accomplish challenging goals, and take moderate risks to achieve success. These individuals are driven by a sense of personal accomplishment and actively seek tasks that offer them opportunities to demonstrate their skills and abilities.