What does an ethical entrepreneur consider even while earning profit?
Answer and explanation
Correct answer: Honest and fair conduct
An ethical entrepreneur values honesty, fairness, customer welfare, and compliance with laws along with profit. Therefore, honest and fair conduct is correct. Misleading customers or hiding product defects damages trust, while breaking legal rules is unethical and may be unlawful. Exam tip: remember ethical entrepreneurship as profit combined with honesty and social responsibility.
Frequently asked questions
What is the correct answer to this question?
Honest and fair conduct
Why is this the correct answer?
An ethical entrepreneur values honesty, fairness, customer welfare, and compliance with laws along with profit. Therefore, honest and fair conduct is correct. Misleading customers or hiding product defects damages trust, while breaking legal rules is unethical and may be unlawful. Exam tip: remember ethical entrepreneurship as profit combined with honesty and social responsibility.
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.
