How can the usefulness of a business idea be checked?
Answer and explanation
Correct answer: Whether it gives a solution to a problem
A useful business idea should address a real need or solve a problem for a clearly understood group of customers. The entrepreneur can then examine demand, resources, costs, and feasibility before investing. The first and most basic check is whether the idea offers a meaningful solution, so option A is correct; the other choices indicate weakness rather than usefulness.
Frequently asked questions
What is the correct answer to this question?
Whether it gives a solution to a problem
Why is this the correct answer?
A useful business idea should address a real need or solve a problem for a clearly understood group of customers. The entrepreneur can then examine demand, resources, costs, and feasibility before investing. The first and most basic check is whether the idea offers a meaningful solution, so option A is correct; the other choices indicate weakness rather than usefulness.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
