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When is a minimum viable product most useful for an entrepreneur?

Answer and explanation

Correct answer: When the demand and usefulness of an idea need to be tested at low cost

A minimum viable product, or MVP, is an early version containing only the essential features needed to offer and test an idea with users. It helps an entrepreneur learn about demand, usefulness, and possible improvements before spending heavily on a final version. Option A is correct. An MVP is especially valuable when resources are limited and feedback is important, not when success is already certain or resources are unlimited.

Related tags

Minimum-Viable-ProductProduct-TestingCustomer-FeedbackIntroduction To EntrepreneurshipEntrepreneurial Skills IArtificial IntelligenceClass 9 Mcq

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