Which statement about entrepreneurship is the most correct?
Answer and explanation
Correct answer: Entrepreneurship is the process of identifying opportunities and creating value
Entrepreneurship involves recognising an opportunity, mobilising resources, taking informed risks, and creating value through a product, service, or solution. It is not restricted to large factories, does not eliminate the need for planning, and is not simply inherited. Entrepreneurial abilities can be developed through learning and practice.
Frequently asked questions
What is the correct answer to this question?
Entrepreneurship is the process of identifying opportunities and creating value
Why is this the correct answer?
Entrepreneurship involves recognising an opportunity, mobilising resources, taking informed risks, and creating value through a product, service, or solution. It is not restricted to large factories, does not eliminate the need for planning, and is not simply inherited. Entrepreneurial abilities can be developed through learning and practice.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
