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What would be the most useful initial step to check the feasibility of a business idea?

Answer and explanation

Correct answer: Assessing customer need, cost, and available resources

Feasibility means checking whether an idea can work in practice. An initial assessment should examine whether customers need the product, what it will cost, which resources are available, and whether the expected returns are reasonable. A logo may support promotion later, but mass production without study and ignoring competitors increase the chance of failure.

Related tags

FeasibilityBusiness IdeaCostCustomer NeedIntroduction To EntrepreneurshipEntrepreneurial Skills IArtificial IntelligenceClass 9 Mcq

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