MP Board · Class 11 · Business Studies · Small Business and EnterprisesAccording to the MSMED Act, 2006, enterprises are classified into two broad categories namely:
Step-by-Step Solution
Manufacturing enterprises and Service enterprises are the two broad categories defined under the MSMED Act to distinguish businesses based on their primary operations.
Detailed Options Breakdown
Option : Public and Private enterprises
Incorrect choice. This distractor represents a common misunderstanding of the core principles of Small Business and Enterprises.
Option 1: Manufacturing and Service enterprises (Correct Answer)
Correct choice. Refer to the step-by-step verified solution guidelines above for details.
Option 2: Wholesale and Retail enterprises
Incorrect choice. This distractor represents a common misunderstanding of the core principles of Small Business and Enterprises.
Option 3: Domestic and International enterprises
Incorrect choice. This distractor represents a common misunderstanding of the core principles of Small Business and Enterprises.
💡 Study Guide: This question tests core syllabus concepts from Small Business and Enterprises. For formulas, key summaries, and mock exam reference guides, read the full Small Business and Enterprises Revision Notes.