What does the best use of resources in a new venture indicate?
Answer and explanation
Correct answer: Resourcefulness and planned thinking
A new venture often has limited money, time, equipment, and personnel. Using these resources carefully requires identifying priorities, avoiding waste, finding practical alternatives, and matching resources with business goals. This shows resourcefulness and planning. Spending without objectives or ignoring customers reflects poor management, not efficient entrepreneurship. Therefore, option A is the appropriate interpretation.
Frequently asked questions
What is the correct answer to this question?
Resourcefulness and planned thinking
Why is this the correct answer?
A new venture often has limited money, time, equipment, and personnel. Using these resources carefully requires identifying priorities, avoiding waste, finding practical alternatives, and matching resources with business goals. This shows resourcefulness and planning. Spending without objectives or ignoring customers reflects poor management, not efficient entrepreneurship. Therefore, option A is the appropriate interpretation.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
