Which question is most important while checking the feasibility of a business idea?
Answer and explanation
Correct answer: Are customers willing to pay for solving the problem
Feasibility asks whether a business idea can work in practice and be sustained. A central question is whether a sufficiently large group of customers has the problem and is willing to pay for the proposed solution. A long name, the owner’s fame, or music in the shop may sometimes matter, but none establishes demand or commercial viability. Therefore A is most important.
Frequently asked questions
What is the correct answer to this question?
Are customers willing to pay for solving the problem
Why is this the correct answer?
Feasibility asks whether a business idea can work in practice and be sustained. A central question is whether a sufficiently large group of customers has the problem and is willing to pay for the proposed solution. A long name, the owner’s fame, or music in the shop may sometimes matter, but none establishes demand or commercial viability. Therefore A is most important.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
