If an entrepreneur fulfils a social need while giving employment, what benefit does it show?
Answer and explanation
Correct answer: Social and economic benefit
Meeting a community need is a social benefit, while creating jobs is an economic benefit. Therefore, the correct answer is social and economic benefit. “Only personal profit” is incomplete because the question refers to both social welfare and employment generation. Exam tip: If an enterprise improves public welfare and creates income or jobs, identify it as a socio-economic benefit.
Frequently asked questions
What is the correct answer to this question?
Social and economic benefit
Why is this the correct answer?
Meeting a community need is a social benefit, while creating jobs is an economic benefit. Therefore, the correct answer is social and economic benefit. “Only personal profit” is incomplete because the question refers to both social welfare and employment generation. Exam tip: If an enterprise improves public welfare and creates income or jobs, identify it as a socio-economic benefit.
Which subject and chapter does this question cover?
This is a Class 11 Home Science question. Chapter: Work, Livelihood and Career. Topic: Entrepreneurship: definition and characteristics.
