What is the main difference between confidence and overconfidence in entrepreneurial success?
Answer and explanation
Correct answer: Confidence is based on preparation, while overconfidence ignores facts
Healthy confidence is supported by preparation, relevant skills, evidence, and awareness of limitations. Overconfidence causes a person to underestimate risks, dismiss feedback, or assume success without adequate support. Confidence does involve decisions, but it is more balanced and realistic; therefore A correctly distinguishes the two qualities.
Frequently asked questions
What is the correct answer to this question?
Confidence is based on preparation, while overconfidence ignores facts
Why is this the correct answer?
Healthy confidence is supported by preparation, relevant skills, evidence, and awareness of limitations. Overconfidence causes a person to underestimate risks, dismiss feedback, or assume success without adequate support. Confidence does involve decisions, but it is more balanced and realistic; therefore A correctly distinguishes the two qualities.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
