Which statement about entrepreneurship is correct?
Answer and explanation
Correct answer: Entrepreneurship includes identifying opportunities and creating value
Entrepreneurship involves recognising an opportunity or problem, mobilising resources, accepting calculated risk and creating value through a product, service or process. It is not restricted to people who already possess great wealth, though resources are needed. Planning and understanding customers remain important. Therefore option B is the only correct statement.
Frequently asked questions
What is the correct answer to this question?
Entrepreneurship includes identifying opportunities and creating value
Why is this the correct answer?
Entrepreneurship involves recognising an opportunity or problem, mobilising resources, accepting calculated risk and creating value through a product, service or process. It is not restricted to people who already possess great wealth, though resources are needed. Planning and understanding customers remain important. Therefore option B is the only correct statement.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
