What is the most accurate difference between innovation and invention?
Answer and explanation
Correct answer: Invention may create a new idea and innovation applies it usefully
Invention refers to creating a new device, process, or idea, while innovation involves applying, improving, or commercialising an idea so that it creates useful value. An invention may exist without wide use, whereas innovation is concerned with practical adoption and benefit. Advertising alone is neither concept. Therefore, A gives the most accurate distinction for entrepreneurship.
Frequently asked questions
What is the correct answer to this question?
Invention may create a new idea and innovation applies it usefully
Why is this the correct answer?
Invention refers to creating a new device, process, or idea, while innovation involves applying, improving, or commercialising an idea so that it creates useful value. An invention may exist without wide use, whereas innovation is concerned with practical adoption and benefit. Advertising alone is neither concept. Therefore, A gives the most accurate distinction for entrepreneurship.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
