Which example shows the best use of resources by an entrepreneur?
Answer and explanation
Correct answer: Meeting the customer's main need with limited resources
Efficient resource use means directing limited money, time, materials, labour, and skills toward activities that create the greatest customer value. Meeting the main need with fewer resources avoids waste and improves the chance of survival. Decoration, unsold stock, and ignored skills do not directly solve the customer’s problem and can weaken the enterprise.
Frequently asked questions
What is the correct answer to this question?
Meeting the customer's main need with limited resources
Why is this the correct answer?
Efficient resource use means directing limited money, time, materials, labour, and skills toward activities that create the greatest customer value. Meeting the main need with fewer resources avoids waste and improves the chance of survival. Decoration, unsold stock, and ignored skills do not directly solve the customer’s problem and can weaken the enterprise.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
