What can be called a business opportunity?
Answer and explanation
Correct answer: Where people have a need and a solution is possible
A business opportunity exists when a recognised customer need or problem can be addressed through a product or service that is feasible and capable of creating value. The opportunity still needs market, resource, and financial assessment before implementation. Thus option A is correct; no customers, unclear problems, and absence of planning do not establish an opportunity.
Frequently asked questions
What is the correct answer to this question?
Where people have a need and a solution is possible
Why is this the correct answer?
A business opportunity exists when a recognised customer need or problem can be addressed through a product or service that is feasible and capable of creating value. The opportunity still needs market, resource, and financial assessment before implementation. Thus option A is correct; no customers, unclear problems, and absence of planning do not establish an opportunity.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
