How does an entrepreneur identify an opportunity?
Answer and explanation
Correct answer: By observing people's needs and problems
An opportunity often appears when people have an unmet need or a problem for which an acceptable solution is missing. An entrepreneur observes customers, studies their difficulties, and considers whether a useful product or service can be offered. Guessing alone, ignoring customers, or spending without information does not establish a sound opportunity. Hence, A is correct.
Frequently asked questions
What is the correct answer to this question?
By observing people's needs and problems
Why is this the correct answer?
An opportunity often appears when people have an unmet need or a problem for which an acceptable solution is missing. An entrepreneur observes customers, studies their difficulties, and considers whether a useful product or service can be offered. Guessing alone, ignoring customers, or spending without information does not establish a sound opportunity. Hence, A is correct.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
