Which is the most balanced way to choose a business idea?
Answer and explanation
Correct answer: By considering interest, skills, resources and market need together
A sound business idea should fit the entrepreneur’s interests and abilities, available resources and the needs of a real market. Considering all these factors improves feasibility and reduces avoidable mistakes. Option A gives this balanced approach. A friend’s opinion, appearance or no information cannot adequately establish business viability.
Frequently asked questions
What is the correct answer to this question?
By considering interest, skills, resources and market need together
Why is this the correct answer?
A sound business idea should fit the entrepreneur’s interests and abilities, available resources and the needs of a real market. Considering all these factors improves feasibility and reduces avoidable mistakes. Option A gives this balanced approach. A friend’s opinion, appearance or no information cannot adequately establish business viability.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
