In which situation will an entrepreneur's decision be considered more logical?
Answer and explanation
Correct answer: When the decision is based on data, experience, and customer information
A logical entrepreneurial decision uses relevant evidence, experience, and a clear objective. Data can show trends, customer information can reveal needs, and experience helps interpret practical conditions. Rumour, anger, or an absence of purpose provides no reliable basis for comparing alternatives and likely consequences.
Frequently asked questions
What is the correct answer to this question?
When the decision is based on data, experience, and customer information
Why is this the correct answer?
A logical entrepreneurial decision uses relevant evidence, experience, and a clear objective. Data can show trends, customer information can reveal needs, and experience helps interpret practical conditions. Rumour, anger, or an absence of purpose provides no reliable basis for comparing alternatives and likely consequences.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
