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Which one of the following statements most appropriately describes the term ‘Shadow Entrepreneurs’ recently seen in the news?
- a)They are optimistic individuals with the ability to pick out financial opportunities and exiting when a business hits its peak.
- b)They are rare individuals that come up with a great idea or product that no one has thought of before.
- c)They are individuals who manage a business that sells legitimate goods and services but they do not register their businesses.
- d)They are individuals with a strong skillset in a specific area obtained through education or apprenticeship.
Correct answer is option 'C'. Can you explain this answer?
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Which one of the following statements most appropriately describes th...
Shadow Entrepreneurs
Shadow entrepreneurs are individuals who manage a business that sells legitimate goods and services but do not register their businesses. This term has been in the news recently due to its implications on the economy and society as a whole.
Characteristics of Shadow Entrepreneurs
- Operate in the informal sector: Shadow entrepreneurs typically operate in the informal sector, outside the purview of government regulations and oversight.
- Lack of formal registration: These entrepreneurs do not register their businesses with the appropriate authorities, making their operations harder to trace and regulate.
- Tax evasion: By not registering their businesses, shadow entrepreneurs often evade paying taxes, leading to loss of revenue for the government.
- Lack of legal protection: Since their businesses are not registered, shadow entrepreneurs lack the legal protection that comes with formal registration, making them vulnerable to exploitation.
Impact of Shadow Entrepreneurs
- Economic implications: Shadow entrepreneurs contribute to the informal economy, which can have negative effects on the formal economy in terms of tax revenue and competition.
- Social implications: The presence of shadow entrepreneurs can lead to unfair competition for registered businesses that comply with regulations, affecting the overall business environment.
- Government response: Governments need to address the issue of shadow entrepreneurs through policies that incentivize formalization and compliance with regulations.
In conclusion, shadow entrepreneurs play a significant role in the economy, but their operations can have wide-ranging implications. It is essential for governments to address this issue to ensure a level playing field for all businesses.
Shadow entrepreneurs are individuals who manage a business that sells legitimate goods and services but do not register their businesses. This term has been in the news recently due to its implications on the economy and society as a whole.
Characteristics of Shadow Entrepreneurs
- Operate in the informal sector: Shadow entrepreneurs typically operate in the informal sector, outside the purview of government regulations and oversight.
- Lack of formal registration: These entrepreneurs do not register their businesses with the appropriate authorities, making their operations harder to trace and regulate.
- Tax evasion: By not registering their businesses, shadow entrepreneurs often evade paying taxes, leading to loss of revenue for the government.
- Lack of legal protection: Since their businesses are not registered, shadow entrepreneurs lack the legal protection that comes with formal registration, making them vulnerable to exploitation.
Impact of Shadow Entrepreneurs
- Economic implications: Shadow entrepreneurs contribute to the informal economy, which can have negative effects on the formal economy in terms of tax revenue and competition.
- Social implications: The presence of shadow entrepreneurs can lead to unfair competition for registered businesses that comply with regulations, affecting the overall business environment.
- Government response: Governments need to address the issue of shadow entrepreneurs through policies that incentivize formalization and compliance with regulations.
In conclusion, shadow entrepreneurs play a significant role in the economy, but their operations can have wide-ranging implications. It is essential for governments to address this issue to ensure a level playing field for all businesses.
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Which one of the following statements most appropriately describes the term ‘Shadow Entrepreneurs’ recently seen in the news?a)They are optimistic individuals with the ability to pick out financial opportunities and exiting when a business hits its peak.b)They are rare individuals that come up with a great idea or product that no one has thought of before.c)They are individuals who manage a business that sells legitimate goods and services but they do not register their businesses.d)They are individuals with a strong skillset in a specific area obtained through education or apprenticeship.Correct answer is option 'C'. Can you explain this answer?
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Which one of the following statements most appropriately describes the term ‘Shadow Entrepreneurs’ recently seen in the news?a)They are optimistic individuals with the ability to pick out financial opportunities and exiting when a business hits its peak.b)They are rare individuals that come up with a great idea or product that no one has thought of before.c)They are individuals who manage a business that sells legitimate goods and services but they do not register their businesses.d)They are individuals with a strong skillset in a specific area obtained through education or apprenticeship.Correct answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Which one of the following statements most appropriately describes the term ‘Shadow Entrepreneurs’ recently seen in the news?a)They are optimistic individuals with the ability to pick out financial opportunities and exiting when a business hits its peak.b)They are rare individuals that come up with a great idea or product that no one has thought of before.c)They are individuals who manage a business that sells legitimate goods and services but they do not register their businesses.d)They are individuals with a strong skillset in a specific area obtained through education or apprenticeship.Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which one of the following statements most appropriately describes the term ‘Shadow Entrepreneurs’ recently seen in the news?a)They are optimistic individuals with the ability to pick out financial opportunities and exiting when a business hits its peak.b)They are rare individuals that come up with a great idea or product that no one has thought of before.c)They are individuals who manage a business that sells legitimate goods and services but they do not register their businesses.d)They are individuals with a strong skillset in a specific area obtained through education or apprenticeship.Correct answer is option 'C'. Can you explain this answer?.
Which one of the following statements most appropriately describes the term ‘Shadow Entrepreneurs’ recently seen in the news?a)They are optimistic individuals with the ability to pick out financial opportunities and exiting when a business hits its peak.b)They are rare individuals that come up with a great idea or product that no one has thought of before.c)They are individuals who manage a business that sells legitimate goods and services but they do not register their businesses.d)They are individuals with a strong skillset in a specific area obtained through education or apprenticeship.Correct answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Which one of the following statements most appropriately describes the term ‘Shadow Entrepreneurs’ recently seen in the news?a)They are optimistic individuals with the ability to pick out financial opportunities and exiting when a business hits its peak.b)They are rare individuals that come up with a great idea or product that no one has thought of before.c)They are individuals who manage a business that sells legitimate goods and services but they do not register their businesses.d)They are individuals with a strong skillset in a specific area obtained through education or apprenticeship.Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which one of the following statements most appropriately describes the term ‘Shadow Entrepreneurs’ recently seen in the news?a)They are optimistic individuals with the ability to pick out financial opportunities and exiting when a business hits its peak.b)They are rare individuals that come up with a great idea or product that no one has thought of before.c)They are individuals who manage a business that sells legitimate goods and services but they do not register their businesses.d)They are individuals with a strong skillset in a specific area obtained through education or apprenticeship.Correct answer is option 'C'. Can you explain this answer?.
Solutions for Which one of the following statements most appropriately describes the term ‘Shadow Entrepreneurs’ recently seen in the news?a)They are optimistic individuals with the ability to pick out financial opportunities and exiting when a business hits its peak.b)They are rare individuals that come up with a great idea or product that no one has thought of before.c)They are individuals who manage a business that sells legitimate goods and services but they do not register their businesses.d)They are individuals with a strong skillset in a specific area obtained through education or apprenticeship.Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC.
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