ECONOMICS (CBSE/UGC NET)

ECONOMICS

ENTREPRENEURS

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Sharon is thinking about opening a bakery. Which of the following would NOT be a good early step?

A	Estimate the target market
B	Immediately put down a deposit for a storefront property
C	Create a business pitch
D	Get a mentor

Explanation:

Detailed explanation-1: -Which of the following ensures a good idea for a business is an actual business opportunity? The idea solves a unique or want in the market that group of customers is WILLING to buy.

Detailed explanation-2: -Which of the following is probably NOT an important point to include in a business pitch? A detailed description of the meaning behind the company’s name.

Detailed explanation-3: -Which of the following is NOT considered a risk of being an entrepreneur? Providing value to others is considered a benefit of being an entrepreneur, not something you have to risk.

Detailed explanation-4: -Ledger. The simplest and most accurate way to determine your income and expenses is to keep all of your receipts, bills, invoices and collections and enter them into a ledger as they occur.

There is 1 question to complete.