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How should an entrepreneur understand the main difference between an idea and an opportunity?

Answer and explanation

Correct answer: An opportunity is an idea with market need and potential

An idea is a proposed thought, product, service, or solution, but it may not have customers or practical feasibility. It becomes an opportunity when evidence indicates a real need and the entrepreneur can create value in a reachable market with available resources. Thus every opportunity may begin as an idea, but not every idea becomes an opportunity. Option A states this distinction.

Related tags

Business-OpportunityIdea-ValidationEntrepreneurship DevelopmentMsme And Business EntrepreneurshipBusiness StudiesClass 11 Mcq

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