What is the simple meaning of innovation in entrepreneurship?
Answer and explanation
Correct answer: Adopting a new and useful method
In entrepreneurship, innovation means adopting a new and useful idea, product, service, or method to meet a need or solve a problem. Therefore, option C is correct. Simply copying an old method is not innovation because it lacks novelty. Exam tip: remember innovation as a ‘new and useful improvement’.
Frequently asked questions
What is the correct answer to this question?
Adopting a new and useful method
Why is this the correct answer?
In entrepreneurship, innovation means adopting a new and useful idea, product, service, or method to meet a need or solve a problem. Therefore, option C is correct. Simply copying an old method is not innovation because it lacks novelty. Exam tip: remember innovation as a ‘new and useful improvement’.
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.
