Which entrepreneurial skill is demonstrated by making a business decision after assessing the possibilities of both profit and loss?
Answer and explanation
Correct answer: Calculated risk-taking
Calculated risk-taking means evaluating possible benefits, losses, uncertainty, resources, and consequences before deciding to act. An entrepreneur does not assume that success is guaranteed; instead, the decision is based on available evidence and a plan for managing possible failure. Job security, avoiding rules, and depending on others do not describe this business decision-making skill.
Frequently asked questions
What is the correct answer to this question?
Calculated risk-taking
Why is this the correct answer?
Calculated risk-taking means evaluating possible benefits, losses, uncertainty, resources, and consequences before deciding to act. An entrepreneur does not assume that success is guaranteed; instead, the decision is based on available evidence and a plan for managing possible failure. Job security, avoiding rules, and depending on others do not describe this business decision-making skill.
Which subject and chapter does this question cover?
This is a Class 10 Information Technology question. Chapter: Database Management System using LibreOffice Base.
