INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Incentive.
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Subsidy.
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Bounty.
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Concession.
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Detailed explanation-1: -The term Bounty denotes bonus or financial aid which is given by a government to industry to help it compete with other units in the home market or in a foreign market. Bounty offers benefits on a particular industry; while a subsidy is given in the interest of the nation.
Detailed explanation-2: -A bonus or financial aid which is given by a govt. to an industry to help it compete with other units in home market or in a foreign market is known as…… A. subsidy.
Detailed explanation-3: -What is Incentives and subsidies? The term “incentive” includes concessions and bounties. ‘Subsidy’ denotes a single lump sum which is given by a government to industry. It is granted to an industry which is considered essential in the national interest.
Detailed explanation-4: -These incentives are given in the form of concession, subsidies and bounties. Subsidies are a one time lump sum amount given to the entrepreneur by the government. It is a financial help to cover the cost.