What is the best step for an entrepreneur when resources are limited?
Answer and explanation
Correct answer: Prioritize the most important tasks and start small
When money, time, or people are limited, the entrepreneur should first identify essential activities and use resources carefully. Starting on a small scale allows learning, controls expenditure, and limits possible loss before expansion. The other options waste resources or remove planning and market knowledge, increasing risk.
Frequently asked questions
What is the correct answer to this question?
Prioritize the most important tasks and start small
Why is this the correct answer?
When money, time, or people are limited, the entrepreneur should first identify essential activities and use resources carefully. Starting on a small scale allows learning, controls expenditure, and limits possible loss before expansion. The other options waste resources or remove planning and market knowledge, increasing risk.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
