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Subjects
Class 11Home ScienceWork, Livelihood and CareerEntrepreneurship: definition and characteristicsMediumLevel 47

In which situation is an entrepreneur's calculated risk-taking shown?

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Answer and explanation

Correct answer: Making limited quantity and checking market response

Small testing reduces risk and helps learning. In exams, choose calculated risk instead of blind risk.

Tags

calculated riskmarket testingentrepreneurship

Frequently asked questions

What is the correct answer to this question?

Making limited quantity and checking market response

Why is this the correct answer?

Small testing reduces risk and helps learning. In exams, choose calculated risk instead of blind risk.

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.

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10 more MCQs
  1. 1What is the simplest meaning of entrepreneurship?
  2. 2Who is called an entrepreneur?
  3. 3Which is a main characteristic of entrepreneurship?
  4. 4Changing a new idea into a useful product or service is related to what?
  5. 5How does an entrepreneur identify opportunity?
  6. 6Why is self-confidence important in entrepreneurship?
  7. 7Why is planning necessary before starting an enterprise?
  8. 8What is an important social contribution of an entrepreneur?
  9. 9Taking responsibility for one's decisions shows which entrepreneurial quality?
  10. 10What is collecting market information to know customer preference called?
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