If an entrepreneur notices a hidden customer need in the market, what ability does this show?
Answer and explanation
Correct answer: Ability to identify opportunity
A customer need that is not being served can become an opportunity for a new product, service, or improved solution. Recognising that gap requires observation, customer understanding, and market awareness. Hiding costs, reducing staff, or avoiding tax does not show the ability to discover a legitimate opportunity and may create ethical or operational problems. Therefore, A is correct.
Frequently asked questions
What is the correct answer to this question?
Ability to identify opportunity
Why is this the correct answer?
A customer need that is not being served can become an opportunity for a new product, service, or improved solution. Recognising that gap requires observation, customer understanding, and market awareness. Hiding costs, reducing staff, or avoiding tax does not show the ability to discover a legitimate opportunity and may create ethical or operational problems. Therefore, 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.
