ECONOMICS
ENTREPRENEURS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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Fales
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Either A or B
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None of the above
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Detailed explanation-1: -Self-discipline. This may be one of the most important qualities for an aspiring entrepreneur to have. You are at the heart of your business idea, meaning that you will be the one to hold yourself accountable.
Detailed explanation-2: -Entrepreneurs discover opportunities when they search for them in the existing markets. This means that they observe technological, economic, or social trends. They observe the changing environment and events in their professional or daily life. They talk to people in their network.
Detailed explanation-3: -Put simply: a business idea is a concept that could be used to make money, and an opportunity has proven commercial value. Knowing the difference between an idea and an opportunity is crucial to avoid wasting significant time and money.
Detailed explanation-4: -Identify Your Pain Points. When searching for potential market needs, start with yourself. Conduct Market Research. Another way to prove whether a business idea is viable is by conducting market research. Question Processes. 05-Apr-2022