KSLU Solved Question Papers
Entrepreneurship Development
Previous Year Question Paper with Solution
B.B.A. LL.B. (Five Years) · Sem 2
2026 Jan Examination
munotes.in
Mumbai
B.B.A. LL.B. (Five Years) Sem 2 Entrepreneurship Development 2026 Jan Question Paper with Solutions
First published on munotes.in on 21 October 2026.
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The question paper reproduced here is the paper as set by Karnataka State Law University at the 2026 Jan examination.
Contents
The questions below are the paper as Karnataka State Law University set it at the 2026 Jan examination, in the order it was set.
MarksPage
MarksPage
The Paper as Set
The questions in this volume are the questions asked at the 2026 Jan examination, reproduced as Karnataka State Law University set them, in the order it set them. Long reading passages are shortened to their first and last lines and our summary; the original paper prints them in full. Only the answers are ours. See the original question paper.
Duration 3 hours · Total marks 80 · 20 questions answered
Instructions printed on the paper
- N.B. (1) Answer all five Units. (2) One essay type question and short note/problems is compulsory from each Unit. (3) Figures to the right indicate marks. (4) Answer should be written either in English or Kannada completely.
How to use this volume
Solve the paper first, under exam conditions and against the clock. Then read the answers here and mark your own. Reading a solution before attempting the question feels productive and teaches very little, because recognising an answer is not the same as being able to write one.
Q1
Unit I
(a)Give the meaning of an entrepreneur. Explain the role of entrepreneur in economic development of India.[10]
Answer
For full marks, cover: the meaning of an entrepreneur, with three classic views (Cantillon, Schumpeter, Drucker) and a working definition; then the role of the entrepreneur in India's economic development, point by point: capital formation, employment, balanced regional growth, national income and exports, innovation, import substitution, linkages with large industry, social change and the formalisation of the economy; the official figures that show the scale; a short note on the limits; and a conclusion.
Meaning of an entrepreneur
The word "entrepreneur" comes from the French verb entreprendre, which means "to undertake". An entrepreneur is a person who sees a business opportunity, brings together money, people, materials and ideas, and starts an enterprise to exploit it. He or she bears the risk of loss and earns profit as the reward.
Writers have stressed different sides of this role.
- Richard Cantillon, an Irish-French banker who died in 1734, saw the entrepreneur as a risk-bearer. The entrepreneur buys at a known price and sells at an uncertain price.
- J. A. Schumpeter, in The Theory of Economic Development (English edition 1934), saw the entrepreneur as an innovator. The entrepreneur carries out "new combinations", such as a new product, a new method or a new market.
- Peter F. Drucker, in Innovation and Entrepreneurship (1985), wrote that the entrepreneur "always searches for change, responds to it, and exploits it as an opportunity".
Working definition. An entrepreneur is a person who spots an opportunity, organises resources into a new enterprise, bears its risk and innovates to make it grow.
Role of the entrepreneur in India's economic development
Economic development means a lasting rise in national income, employment and living standards, along with structural change. The entrepreneur is the agent who turns savings, labour and ideas into this change. Each part of the role is explained below.
1. Capital formation. An entrepreneur pulls idle savings into productive use. Family savings, bank loans and investors' money become machines, buildings and working capital. Every new unit adds to the country's stock of capital.
2. Employment generation. Small enterprises use more labour for each rupee of capital than large plants. India's micro, small and medium enterprises (MSMEs) are the biggest source of jobs outside farming. The Ministry of MSME reported in August 2026 that 9.16 crore MSMEs are registered on the Udyam portal, employing over 40 crore people.
3. Balanced regional development. Large industry tends to crowd into a few cities. Entrepreneurs who set up units in small towns and villages spread income more evenly. They also slow the migration of young people to big cities.
4. Growth of national income and exports. New firms raise output, and so raise gross domestic product (GDP) and per capita income. The Economic Survey 2025-26, as quoted by the Government in August 2026, puts MSMEs at 31.1% of GDP and 48.58% of exports.
5. Innovation and better technology. Entrepreneurs bring new products and cheaper methods to the market. Competition then forces older firms to improve. This is Schumpeter's process of development through innovation.
6. Import substitution and self-reliance. Indian entrepreneurs make at home what was earlier imported. This saves foreign exchange. The Make in India initiative, launched on 25 September 2014, builds on this role.
7. Linkages with large industry. Small units supply parts, components and services to large firms. A car plant, for example, depends on hundreds of small suppliers. These links spread the benefit of one large investment across a whole region.
8. Use of local resources. Entrepreneurs use local skills and raw materials, such as coir, handloom, food produce and minerals. Resources that would lie idle become sources of income.
9. Social change. Entrepreneurship opens doors for women and for Scheduled Caste and Scheduled Tribe families. It rewards ability more than birth. Schemes such as Stand-Up India (launched 5 April 2016) were built on this role.
10. Formalising the economy. When a small trader registers on the Udyam portal, the business becomes visible to banks and the State. It can then get credit, guarantees and government orders. The economy becomes more formal.
Summary table
| Area of development | How the entrepreneur contributes |
|---|---|
| Capital | Turns savings into productive assets |
| Jobs | Creates self-employment and wage employment |
| Regions | Takes industry to small towns and villages |
| Income and trade | Raises GDP, per capita income and exports |
| Technology | Introduces new products and methods |
| Society | Widens opportunity for women and weaker sections |
Limits of the role
The entrepreneur cannot do this alone. Lack of credit, poor infrastructure, delayed payments and complex rules hold many units back. That is why the Government supports entrepreneurs through credit guarantees, training and registration on the Udyam portal.
Conclusion. An entrepreneur is the person who sees an opportunity, organises resources, bears the risk and innovates. In India this person is the engine of development: the entrepreneur forms capital, creates jobs, spreads industry across regions and raises income and exports. The official figure of MSMEs at 31.1% of GDP shows the point. India's growth rests on a wide base of entrepreneurs, not on a few large firms.
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