Micro, Small and Medium Enterprises (MSEMs)
NIOS · Class 10 · Entrepreneurship
Flashcards for Micro, Small and Medium Enterprises (MSEMs) — NIOS Class 10 Entrepreneurship. Quick Q&A cards covering key concepts, definitions, and formulas.
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What is an enterprise under the MSME Act 2006?
Answer
An enterprise means an industrial undertaking, a business concern, or any other establishment engaged in manufacturing or production of goods, or in providing or rendering services. It includes both m…
Why are MSMEs called the engine of growth for India?
Answer
MSMEs are called the engine of growth because they create employment, support manufacturing, reduce regional imbalance, and contribute to GDP. MSME sector forms 8% of India’s GDP.
How many Economic Censuses have been conducted in India so far?
Answer
Six Economic Censuses have been conducted in India so far.
What did the Sixth Economic Census find in 2013?
Answer
The Sixth Economic Census found 58.5 million establishments in operation.
What does the NSS 73rd Round report about MSMEs in India?
Answer
According to the NSS 73rd Round, there are 633.92 lakh MSMEs in India, and only 4000 of them were large industries.
What is a factory under the Factories Act 1948?
Answer
A factory means any premises where a manufacturing process is carried on or is ordinarily carried on. It is linked with worker thresholds and the use of power.
What are the worker limits for a factory using power and a factory without power?
Answer
A factory using power requires 50 or more workers on any day of the preceding twelve months. A factory without power requires 100 or more workers on any day of the preceding 12 months.
What is the main difference between manufacturing and service sectors?
Answer
The manufacturing sector produces tangible goods, while the service sector provides services instead of tangible goods. Manufacturing products can be stored, but services are usually consumed as they …
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