Why is decision-making ability important for an entrepreneur?
Answer and explanation
Correct answer: To choose the right option at the right time
An entrepreneur regularly faces choices about products, prices, suppliers, employees, and the use of money. Decision-making ability helps compare available alternatives, judge their likely results, and select a suitable option within the required time. Therefore, option A is correct. The other options describe actions that harm or stop business rather than support responsible management.
Frequently asked questions
What is the correct answer to this question?
To choose the right option at the right time
Why is this the correct answer?
An entrepreneur regularly faces choices about products, prices, suppliers, employees, and the use of money. Decision-making ability helps compare available alternatives, judge their likely results, and select a suitable option within the required time. Therefore, option A is correct. The other options describe actions that harm or stop business rather than support responsible management.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
