INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -An opportunity is a thought or concept that comes from creative thinking. False. Analyzing past experiences and jobs is a good way to come up with a business idea. True. You can learn about business opportunities by talking to other entrepreneurs.
Detailed explanation-2: -Often used interchangeably, there’s actually a big difference between an idea and an opportunity in business. Put simply: a business idea is a concept that could be used to make money, and an opportunity has proven commercial value.
Detailed explanation-3: -A business idea can be thought of as an entrepreneurial thought of the creation of a product or service, while a business opportunity is an area in the market where an entrepreneur can benefit if they take advantage of that potential gap.