What does efficient use of resources show for an entrepreneur?
Answer and explanation
Correct answer: Less wastage and better results
Money, materials, time, labour, and equipment are limited business resources. Efficient use means planning their allocation, reducing avoidable waste, and obtaining suitable output without compromising necessary quality. This can improve productivity and control cost. More wastage and lack of planning represent the opposite, while distance from customers is unrelated to resource efficiency. Thus A is correct.
Frequently asked questions
What is the correct answer to this question?
Less wastage and better results
Why is this the correct answer?
Money, materials, time, labour, and equipment are limited business resources. Efficient use means planning their allocation, reducing avoidable waste, and obtaining suitable output without compromising necessary quality. This can improve productivity and control cost. More wastage and lack of planning represent the opposite, while distance from customers is unrelated to resource efficiency. Thus 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.
