What is the most practical basis for identifying opportunity in entrepreneurship?
Answer and explanation
Correct answer: Customer's real problem or need
An entrepreneurial opportunity is strongest when it begins with a real problem, unmet need, or difficulty faced by identifiable customers. The entrepreneur studies what people require, why existing solutions are inadequate, and whether a useful product or service can solve the problem. This approach connects demand with a possible business idea and helps reduce waste. It does not guarantee success, because cost, competition, skills, and risk must also be examined, but customer need is the practical starting point.
Option A is correct because a customer’s real problem or need provides evidence that a solution may be valued and purchased. Shop decoration in option B may attract attention but does not itself create demand. Producing without demand in option C can leave goods unsold. Option D is unsuitable because entrepreneurship involves responsible, calculated risk rather than avoiding every risk. The central idea is to identify a genuine need and then develop a feasible solution for it.
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What is the correct answer to this question?
Customer's real problem or need
Why is this the correct answer?
An entrepreneurial opportunity is strongest when it begins with a real problem, unmet need, or difficulty faced by identifiable customers. The entrepreneur studies what people require, why existing solutions are inadequate, and whether a useful product or service can solve the problem. This approach connects demand with a possible business idea and helps reduce waste. It does not guarantee success, because cost, competition, skills, and risk must also be examined, but customer need is the practical starting point.
Option A is correct because a customer’s real problem or need provides evidence that a solution may be valued and purchased. Shop decoration in option B may attract attention but does not itself create demand. Producing without demand in option C can leave goods unsold. Option D is unsuitable because entrepreneurship involves responsible, calculated risk rather than avoiding every risk. The central idea is to identify a genuine need and then develop a feasible solution for it.
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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