Commerce Exam > Commerce Questions > Direction: Read the given text and answer th...
Start Learning for Free
Direction: Read the given text and answer the questions that follow: Sensing the business opportunities in Food industry, Sagar Bagada after completing his graduation in Agriculture engineering, decided to open his own enterprise. His dream turned into reality when his enterprise, “Swaad Food Industries” set up its food and beverages processing plant in ‘Mitrapura’’, one of the rural area of Rajasthan, under Start-up India Scheme launched on 16th January, 2016. The enterprise opted for labour intensive technique, due to easy availability of labour at lower cost. With in no time,he came in the list of successful entrepreneurs.
Q. “The enterprise opted for labour intensive technique, due to easy availability of labour at lower cost.” Identify the need for entrepreneurship satisfied in the given statement.
- a)Organization of production
- b)Generation of employment
- c)Economic efficiency
- d)Generation of business opportunities for others
Correct answer is option 'C'. Can you explain this answer?
| FREE This question is part of | Download PDF Attempt this Test |
Verified Answer
Direction: Read the given text and answer the questions that follow: ...
Economic efficiency is when all goods and factors of production in an economy are distributed or allocated to their most valuable uses and waste is eliminated or minimized.
View all questions of this test
Most Upvoted Answer
Direction: Read the given text and answer the questions that follow: ...
Understanding the Need for Entrepreneurship in Swaad Food Industries
The statement highlights the choice of a labour-intensive technique in Sagar Bagada's enterprise, "Swaad Food Industries." This decision directly addresses the need for economic efficiency in the context of entrepreneurship.
Economic Efficiency Explained
- Cost-Effectiveness: By opting for a labour-intensive method, Swaad Food Industries capitalizes on the availability of affordable labor in the rural area of Rajasthan. This reduces operational costs, allowing the enterprise to allocate resources more effectively.
- Maximizing Output: Labour-intensive techniques often yield higher outputs when there is an abundance of low-cost labor. This choice enhances productivity, thereby potentially increasing profit margins.
- Utilization of Local Resources: Choosing labour-intensive methods respects and utilizes local resources (human capital), fostering economic growth within the community. This aligns with the principles of economic efficiency, where resources are optimally utilized.
Impact on Entrepreneurship
- Sustainability: By focusing on economic efficiency, Swaad Food Industries can sustain its operations and profitability over time, which is crucial for the long-term success of any business.
- Competitive Advantage: The ability to produce at a lower cost gives the enterprise a competitive edge in the food industry. This can lead to increased market share and brand recognition.
In summary, while the decision to employ a labour-intensive technique does create job opportunities, the underlying need for entrepreneurship primarily reflects economic efficiency. By maximizing resource utilization and minimizing costs, Swaad Food Industries positions itself for sustainable success in the competitive food industry.
The statement highlights the choice of a labour-intensive technique in Sagar Bagada's enterprise, "Swaad Food Industries." This decision directly addresses the need for economic efficiency in the context of entrepreneurship.
Economic Efficiency Explained
- Cost-Effectiveness: By opting for a labour-intensive method, Swaad Food Industries capitalizes on the availability of affordable labor in the rural area of Rajasthan. This reduces operational costs, allowing the enterprise to allocate resources more effectively.
- Maximizing Output: Labour-intensive techniques often yield higher outputs when there is an abundance of low-cost labor. This choice enhances productivity, thereby potentially increasing profit margins.
- Utilization of Local Resources: Choosing labour-intensive methods respects and utilizes local resources (human capital), fostering economic growth within the community. This aligns with the principles of economic efficiency, where resources are optimally utilized.
Impact on Entrepreneurship
- Sustainability: By focusing on economic efficiency, Swaad Food Industries can sustain its operations and profitability over time, which is crucial for the long-term success of any business.
- Competitive Advantage: The ability to produce at a lower cost gives the enterprise a competitive edge in the food industry. This can lead to increased market share and brand recognition.
In summary, while the decision to employ a labour-intensive technique does create job opportunities, the underlying need for entrepreneurship primarily reflects economic efficiency. By maximizing resource utilization and minimizing costs, Swaad Food Industries positions itself for sustainable success in the competitive food industry.
Attention Commerce Students!
To make sure you are not studying endlessly, EduRev has designed Commerce study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in Commerce.
|
Explore Courses for Commerce exam
|
|
Similar Commerce Doubts
Top Courses for CommerceView all
Direction: Read the given text and answer the questions that follow: Sensing the business opportunities in Food industry, Sagar Bagada after completing his graduation in Agriculture engineering, decided to open his own enterprise. His dream turned into reality when his enterprise, “Swaad Food Industries” set up its food and beverages processing plant in ‘Mitrapura’’, one of the rural area of Rajasthan, under Start-up India Scheme launched on 16th January, 2016. The enterprise opted for labour intensive technique, due to easy availability of labour at lower cost. With in no time,he came in the list of successful entrepreneurs.Q. “The enterprise opted for labour intensive technique, due to easy availability of labour at lower cost.” Identify the need for entrepreneurship satisfied in the given statement.a)Organization of productionb)Generation of employmentc)Economic efficiencyd)Generation of business opportunities for othersCorrect answer is option 'C'. Can you explain this answer?
Question Description
Direction: Read the given text and answer the questions that follow: Sensing the business opportunities in Food industry, Sagar Bagada after completing his graduation in Agriculture engineering, decided to open his own enterprise. His dream turned into reality when his enterprise, “Swaad Food Industries” set up its food and beverages processing plant in ‘Mitrapura’’, one of the rural area of Rajasthan, under Start-up India Scheme launched on 16th January, 2016. The enterprise opted for labour intensive technique, due to easy availability of labour at lower cost. With in no time,he came in the list of successful entrepreneurs.Q. “The enterprise opted for labour intensive technique, due to easy availability of labour at lower cost.” Identify the need for entrepreneurship satisfied in the given statement.a)Organization of productionb)Generation of employmentc)Economic efficiencyd)Generation of business opportunities for othersCorrect answer is option 'C'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Direction: Read the given text and answer the questions that follow: Sensing the business opportunities in Food industry, Sagar Bagada after completing his graduation in Agriculture engineering, decided to open his own enterprise. His dream turned into reality when his enterprise, “Swaad Food Industries” set up its food and beverages processing plant in ‘Mitrapura’’, one of the rural area of Rajasthan, under Start-up India Scheme launched on 16th January, 2016. The enterprise opted for labour intensive technique, due to easy availability of labour at lower cost. With in no time,he came in the list of successful entrepreneurs.Q. “The enterprise opted for labour intensive technique, due to easy availability of labour at lower cost.” Identify the need for entrepreneurship satisfied in the given statement.a)Organization of productionb)Generation of employmentc)Economic efficiencyd)Generation of business opportunities for othersCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Direction: Read the given text and answer the questions that follow: Sensing the business opportunities in Food industry, Sagar Bagada after completing his graduation in Agriculture engineering, decided to open his own enterprise. His dream turned into reality when his enterprise, “Swaad Food Industries” set up its food and beverages processing plant in ‘Mitrapura’’, one of the rural area of Rajasthan, under Start-up India Scheme launched on 16th January, 2016. The enterprise opted for labour intensive technique, due to easy availability of labour at lower cost. With in no time,he came in the list of successful entrepreneurs.Q. “The enterprise opted for labour intensive technique, due to easy availability of labour at lower cost.” Identify the need for entrepreneurship satisfied in the given statement.a)Organization of productionb)Generation of employmentc)Economic efficiencyd)Generation of business opportunities for othersCorrect answer is option 'C'. Can you explain this answer?.
Direction: Read the given text and answer the questions that follow: Sensing the business opportunities in Food industry, Sagar Bagada after completing his graduation in Agriculture engineering, decided to open his own enterprise. His dream turned into reality when his enterprise, “Swaad Food Industries” set up its food and beverages processing plant in ‘Mitrapura’’, one of the rural area of Rajasthan, under Start-up India Scheme launched on 16th January, 2016. The enterprise opted for labour intensive technique, due to easy availability of labour at lower cost. With in no time,he came in the list of successful entrepreneurs.Q. “The enterprise opted for labour intensive technique, due to easy availability of labour at lower cost.” Identify the need for entrepreneurship satisfied in the given statement.a)Organization of productionb)Generation of employmentc)Economic efficiencyd)Generation of business opportunities for othersCorrect answer is option 'C'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Direction: Read the given text and answer the questions that follow: Sensing the business opportunities in Food industry, Sagar Bagada after completing his graduation in Agriculture engineering, decided to open his own enterprise. His dream turned into reality when his enterprise, “Swaad Food Industries” set up its food and beverages processing plant in ‘Mitrapura’’, one of the rural area of Rajasthan, under Start-up India Scheme launched on 16th January, 2016. The enterprise opted for labour intensive technique, due to easy availability of labour at lower cost. With in no time,he came in the list of successful entrepreneurs.Q. “The enterprise opted for labour intensive technique, due to easy availability of labour at lower cost.” Identify the need for entrepreneurship satisfied in the given statement.a)Organization of productionb)Generation of employmentc)Economic efficiencyd)Generation of business opportunities for othersCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Direction: Read the given text and answer the questions that follow: Sensing the business opportunities in Food industry, Sagar Bagada after completing his graduation in Agriculture engineering, decided to open his own enterprise. His dream turned into reality when his enterprise, “Swaad Food Industries” set up its food and beverages processing plant in ‘Mitrapura’’, one of the rural area of Rajasthan, under Start-up India Scheme launched on 16th January, 2016. The enterprise opted for labour intensive technique, due to easy availability of labour at lower cost. With in no time,he came in the list of successful entrepreneurs.Q. “The enterprise opted for labour intensive technique, due to easy availability of labour at lower cost.” Identify the need for entrepreneurship satisfied in the given statement.a)Organization of productionb)Generation of employmentc)Economic efficiencyd)Generation of business opportunities for othersCorrect answer is option 'C'. Can you explain this answer?.
Solutions for Direction: Read the given text and answer the questions that follow: Sensing the business opportunities in Food industry, Sagar Bagada after completing his graduation in Agriculture engineering, decided to open his own enterprise. His dream turned into reality when his enterprise, “Swaad Food Industries” set up its food and beverages processing plant in ‘Mitrapura’’, one of the rural area of Rajasthan, under Start-up India Scheme launched on 16th January, 2016. The enterprise opted for labour intensive technique, due to easy availability of labour at lower cost. With in no time,he came in the list of successful entrepreneurs.Q. “The enterprise opted for labour intensive technique, due to easy availability of labour at lower cost.” Identify the need for entrepreneurship satisfied in the given statement.a)Organization of productionb)Generation of employmentc)Economic efficiencyd)Generation of business opportunities for othersCorrect answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for Commerce.
Download more important topics, notes, lectures and mock test series for Commerce Exam by signing up for free.
Here you can find the meaning of Direction: Read the given text and answer the questions that follow: Sensing the business opportunities in Food industry, Sagar Bagada after completing his graduation in Agriculture engineering, decided to open his own enterprise. His dream turned into reality when his enterprise, “Swaad Food Industries” set up its food and beverages processing plant in ‘Mitrapura’’, one of the rural area of Rajasthan, under Start-up India Scheme launched on 16th January, 2016. The enterprise opted for labour intensive technique, due to easy availability of labour at lower cost. With in no time,he came in the list of successful entrepreneurs.Q. “The enterprise opted for labour intensive technique, due to easy availability of labour at lower cost.” Identify the need for entrepreneurship satisfied in the given statement.a)Organization of productionb)Generation of employmentc)Economic efficiencyd)Generation of business opportunities for othersCorrect answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Direction: Read the given text and answer the questions that follow: Sensing the business opportunities in Food industry, Sagar Bagada after completing his graduation in Agriculture engineering, decided to open his own enterprise. His dream turned into reality when his enterprise, “Swaad Food Industries” set up its food and beverages processing plant in ‘Mitrapura’’, one of the rural area of Rajasthan, under Start-up India Scheme launched on 16th January, 2016. The enterprise opted for labour intensive technique, due to easy availability of labour at lower cost. With in no time,he came in the list of successful entrepreneurs.Q. “The enterprise opted for labour intensive technique, due to easy availability of labour at lower cost.” Identify the need for entrepreneurship satisfied in the given statement.a)Organization of productionb)Generation of employmentc)Economic efficiencyd)Generation of business opportunities for othersCorrect answer is option 'C'. Can you explain this answer?, a detailed solution for Direction: Read the given text and answer the questions that follow: Sensing the business opportunities in Food industry, Sagar Bagada after completing his graduation in Agriculture engineering, decided to open his own enterprise. His dream turned into reality when his enterprise, “Swaad Food Industries” set up its food and beverages processing plant in ‘Mitrapura’’, one of the rural area of Rajasthan, under Start-up India Scheme launched on 16th January, 2016. The enterprise opted for labour intensive technique, due to easy availability of labour at lower cost. With in no time,he came in the list of successful entrepreneurs.Q. “The enterprise opted for labour intensive technique, due to easy availability of labour at lower cost.” Identify the need for entrepreneurship satisfied in the given statement.a)Organization of productionb)Generation of employmentc)Economic efficiencyd)Generation of business opportunities for othersCorrect answer is option 'C'. Can you explain this answer? has been provided alongside types of Direction: Read the given text and answer the questions that follow: Sensing the business opportunities in Food industry, Sagar Bagada after completing his graduation in Agriculture engineering, decided to open his own enterprise. His dream turned into reality when his enterprise, “Swaad Food Industries” set up its food and beverages processing plant in ‘Mitrapura’’, one of the rural area of Rajasthan, under Start-up India Scheme launched on 16th January, 2016. The enterprise opted for labour intensive technique, due to easy availability of labour at lower cost. With in no time,he came in the list of successful entrepreneurs.Q. “The enterprise opted for labour intensive technique, due to easy availability of labour at lower cost.” Identify the need for entrepreneurship satisfied in the given statement.a)Organization of productionb)Generation of employmentc)Economic efficiencyd)Generation of business opportunities for othersCorrect answer is option 'C'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Direction: Read the given text and answer the questions that follow: Sensing the business opportunities in Food industry, Sagar Bagada after completing his graduation in Agriculture engineering, decided to open his own enterprise. His dream turned into reality when his enterprise, “Swaad Food Industries” set up its food and beverages processing plant in ‘Mitrapura’’, one of the rural area of Rajasthan, under Start-up India Scheme launched on 16th January, 2016. The enterprise opted for labour intensive technique, due to easy availability of labour at lower cost. With in no time,he came in the list of successful entrepreneurs.Q. “The enterprise opted for labour intensive technique, due to easy availability of labour at lower cost.” Identify the need for entrepreneurship satisfied in the given statement.a)Organization of productionb)Generation of employmentc)Economic efficiencyd)Generation of business opportunities for othersCorrect answer is option 'C'. Can you explain this answer? tests, examples and also practice Commerce tests.
|
|
Explore Courses for Commerce exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup