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If an entrepreneur must choose between two opportunities, what is the most scientific basis?

Answer and explanation

Correct answer: Comparative study of demand, cost, risk, and profit

An opportunity should be assessed through relevant evidence rather than personal preference. The entrepreneur should compare expected demand, production and operating costs, possible risks, and likely returns. This comparison helps judge feasibility and choose the stronger option. Personal wishes, a neighbour’s opinion, or an attractive name may be considered later, but they cannot replace systematic analysis.

Related tags

Decision-MakingOpportunity-AnalysisEntrepreneurship DevelopmentMsme And Business EntrepreneurshipBusiness StudiesClass 11 Mcq

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