A student notices demand for nutritious snacks near a school and starts a small venture to meet it. What is this the best example of?
Answer and explanation
Correct answer: Opportunity recognition
The correct answer is A because the student identifies an unmet or insufficiently served need and develops a business response to it. Observing demand is the first step; planning a suitable nutritious snack venture converts that observation into a possible entrepreneurial opportunity. The example does not say that the student is copying another person, avoiding a problem, or spending without a plan. Opportunity recognition involves noticing a need and assessing whether a useful product or service can address it.
Frequently asked questions
What is the correct answer to this question?
Opportunity recognition
Why is this the correct answer?
The correct answer is A because the student identifies an unmet or insufficiently served need and develops a business response to it. Observing demand is the first step; planning a suitable nutritious snack venture converts that observation into a possible entrepreneurial opportunity. The example does not say that the student is copying another person, avoiding a problem, or spending without a plan. Opportunity recognition involves noticing a need and assessing whether a useful product or service can address it.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
