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What is the benefit of making a minimum viable product while starting a small enterprise?

Answer and explanation

Correct answer: It gives a chance to test the idea with customers using fewer resources

A minimum viable product, or MVP, is a basic usable version containing enough features to test an important business assumption. It lets the entrepreneur obtain early customer feedback, learn what needs improvement, and avoid spending heavily before demand is understood. An MVP does not control the market, remove customers, or eliminate every risk. Hence, A is correct.

Related tags

Minimum-Viable-ProductTestingCustomer-FeedbackEntrepreneurship DevelopmentMsme And Business EntrepreneurshipBusiness StudiesClass 11 Mcq

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