English Quiz on Reading Comprehension


Directions (1-10): Read the passage and answer the following questions:



Over the last 15-20 years, while India has been primarily focused on “services”, China started with “manufacturing” and them quickly extended its focus to “product” companies. As a result, in addition to being the manufacturing behemoth, China has also produced product brands like Lenovo, Huawei, ZI‘E, Xiaomi, Baidu, Alibaba, Spreadtrum, spanning hardware, software and e-commerce. 
India desperately needs to create several high-value product companies to meet domestic demand and create wealth. A strong product ecosystem drives healthy manufacturing industry as well. As such, ‘Make in India’ shouldn’t be just about “manufacturing” but also be about “making products”, 
Product-eccentric start-ups require a totally different mindset and approach. They tend to take tens to hundreds of millions of dollars and five to ten years before reaching profitability. This is quite a contrast from “services” model that doesn’t require lot of capital and usually make small but quick returns. But, product companies create lot more value and wealth. We must create Apple, Google, Amazon, Intel, Oracle, Lenovo, Xiaomi, and Facebooks of the world. 
In my view, successful start-ups require passionate and persuasive founders, great vision, innovative technology, strong team,patient capital, good market timing and a little bit of luck. India has no dearth of entrepreneurs, innovation, talent and markets. The biggest challenge for Indian Start-ups today is lack of access to risk capital, especially early to pro-revenue stage. This must be addressed quickly if we want to create high-value product growth engine.
Start-ups need ,different kinds and levels of capital through their life cycle, from conception to profitability. At the beginning, they need seed capital, typically provided by founders and the so-called angel investors, ranging from $100,000 to US$ l million. 
Then, start-ups need early stage investment from venture capitalists and corporate investors, ranging from $10 million to US$100 million through multiple rounds of equity financing ' 
They need late-stage capital from institutional investors, private equity firms and corporate investors to support revenue ramp, profitability and IPO, ranging in hundreds of millions of dollars through a combination of equity and debt financing. My perspective comes from my own experience with co founding Soft Machines Inc, a semiconductor company developing advanced VISCTM Microprocessor architecture and system on. Chip (SoC)  solutions for smart client and cloud markets 
In India, at the moment, there seems to be a lot of appetite for participating in late-stage and mezzanine rounds by global investors such as Softbank, especially' in the areas of woman social media and apps Recent investments into Flipkart, Snapdeal, housing com. are good examples. But, I see two issues with this trend. First, these are late-stage investments, for products are already prawn in the market with some revenues ah customer traction. Second, most of these investments are by global investors, which means return on these investments is not going have domino effect on other start-ups. There also seem to be a good number of angel investors, incubators and start-up villages to support very early and seed-stage capital.Of course, start~ups can benefit from more organised angel investors and government-driven grants along the lines of NSF and SBR grants in the US. 
Question:
Q1.Why has the author suggested that “Make in India’ should not focus just on manufacturing but also on ‘making products"? 
(A) To compete with Product giant China, India also should focus    on making products rather than on manufacturing. 
(B) To meet domestic demand and create wealth it is but imperative for India to focus on making products. 
(C) To fulfill the dream of becoming world economic power India should follow the path adopted by China
1) only(A) only (B) 3) Only (C) 4) Only (A) and (B)
5) Only (B) and (C) 
Q2.Which of the following is the biggest challenge for Indian start-ups to create high-value product growth engine? 
1) Lack of passionate and persuasive founders 
2) Paucity of innovative technology 
3) Dearth of risk capital in the initial stage of a new  company 
4) Lack of a strong and dedicated team 
5) Small-size markets 
Q3.Who among the following are angel investors? Answer in the context of the passage. 
1) Stakeholders of a company Persuasive founders of a company 
3) Foreign investors 
4) Consumers of products 
5) Not clear from the passage
Q4.Who among the following provide financial assistance to start-ups in the early stage of a company?
(A) Corporate investors 
(B) Venture Capitalists
(C) State governments 
1) only (A) and (B)  2) Only (B) and (C)  3) Only (A) and (C)
4) All (A), (B) and (C)   5) None of these 
Q5.Find the incorrect statement on the basis of the given passage. 
1) In the late stage of a company the start-ups get capital from corporate investors, institutional investors and private equity firms. 
2) Over the last 15-20 years the main focus of India has been on ‘services’
3) The basic difference between the ‘product making  companies’ and ‘services’ is that the former need more capital and time than the latter. 
4) Luck is not at all important for the success of startups. 
5) Not only ‘manufacturing’ but also ‘product’ made China a successful economy of the world '
Q6.What 1s the main aim of the writer behind writing this passage? 
1) To share his own experience as a start-up with Indian start-ups 
2) T point out the reasons for China’s huge success 
3) To mention the problem Indian start-ups face as of now .
4) To show the superiority of ‘manufacturing’ over ‘product’ 
5) Other than the given options 
Directions (Q. 7-8): Choose the word/group of words which' IS MOST SIMILAR 1n meaning to the word] group of words printed in bold as used in the passage.
Q7. Addressed 
1) remitted   2) forwarded   3) sent   4) pointed   5) resolved 
Q8. Traction
 1) power  2) pulling     3) inclination    4) Opinion    5) perception 
Directions (Q.9-10): Choose the word /group of words which is MOST OPPOSITE In meaning of the word] group of words printed in bold as used in the passage. 
Q9. Dearth 
1) scarcity 2) deficiency 3)plenty 4) paucity 5) shortage 
Q10. Conception
1) end      2) beginning    3) idea       4) thought      5) launch
Answer:
1. 2
2. 3
3. 5
4. 1
5. 4
6. 3
7. 5
8. 2
9. 3
10. 1

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English Quiz on Reading Comprehension
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