What type of decision is better for an entrepreneur?
Answer and explanation
Correct answer: Decision based on available information and facts
An entrepreneur should make decisions after analysing information about the market, costs, customers and available resources. Such decisions help reduce risk and support planning. Decisions based on rumours or fear are not supported by reliable facts. Exam tip: In entrepreneurship, connect good decision-making with information, analysis and proper planning.
Frequently asked questions
What is the correct answer to this question?
Decision based on available information and facts
Why is this the correct answer?
An entrepreneur should make decisions after analysing information about the market, costs, customers and available resources. Such decisions help reduce risk and support planning. Decisions based on rumours or fear are not supported by reliable facts. Exam tip: In entrepreneurship, connect good decision-making with information, analysis and proper planning.
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.
