In which situation would an entrepreneur's opportunity evaluation be considered weak?
Answer and explanation
Correct answer: When starting without checking demand, cost, risk, and resources
Evaluating an opportunity requires checking customer need, willingness to pay, cost, risks, and available resources. Starting without this information is weak because an attractive idea may still be impractical or unprofitable. The other options are important parts of responsible opportunity evaluation and reduce avoidable uncertainty.
Frequently asked questions
What is the correct answer to this question?
When starting without checking demand, cost, risk, and resources
Why is this the correct answer?
Evaluating an opportunity requires checking customer need, willingness to pay, cost, risks, and available resources. Starting without this information is weak because an attractive idea may still be impractical or unprofitable. The other options are important parts of responsible opportunity evaluation and reduce avoidable uncertainty.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
