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“ The Entrepreneur will estimate the total demand for goods and then will think about arranging finances for the venture along with the availability of power, labor, raw materials and machinery”. Which of the following Promotional function of an Entrepreneur is highlighted in Quoted lines?
- a)Detailed investigation
- b)Discovery of an Idea
- c)Assembling the Requirements
- d)Financing the Proposition
Correct answer is option 'A'. Can you explain this answer?
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Verified Answer
“ The Entrepreneur will estimate the total demand for goods and ...
Promotional function of an Entrepreneur highlighted in the quoted lines:
The highlighted function in the quoted lines is "Assembling the Requirements."
Explanation:
The quoted lines mention the actions taken by an entrepreneur to estimate the total demand for goods and arrange the necessary resources for the venture. This process involves assembling the requirements needed to start and run the business successfully. Here is a breakdown of the highlighted function:
1. Detailed investigation: This refers to the entrepreneur conducting research and analysis to gather information about the market demand, competition, and potential customers. While detailed investigation is an important part of the entrepreneurial process, it is not specifically highlighted in the quoted lines.
2. Discovery of an Idea: The quoted lines do not mention the discovery of an idea as the main focus. The emphasis is on estimating the demand and gathering resources, rather than the initial idea generation phase.
3. Assembling the Requirements: This is the highlighted function in the quoted lines. It involves identifying and gathering the necessary resources such as finances, power, labor, raw materials, and machinery to start and operate the venture.
4. Financing the Proposition: While financing the proposition is an essential function of an entrepreneur, it is not the primary focus in the quoted lines. The emphasis is more on estimating demand and arranging resources rather than specifically financing the venture.
Therefore, the correct answer is C: Assembling the Requirements.
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The highlighted function in the quoted lines is "Assembling the Requirements."
Explanation:
The quoted lines mention the actions taken by an entrepreneur to estimate the total demand for goods and arrange the necessary resources for the venture. This process involves assembling the requirements needed to start and run the business successfully. Here is a breakdown of the highlighted function:
1. Detailed investigation: This refers to the entrepreneur conducting research and analysis to gather information about the market demand, competition, and potential customers. While detailed investigation is an important part of the entrepreneurial process, it is not specifically highlighted in the quoted lines.
2. Discovery of an Idea: The quoted lines do not mention the discovery of an idea as the main focus. The emphasis is on estimating the demand and gathering resources, rather than the initial idea generation phase.
3. Assembling the Requirements: This is the highlighted function in the quoted lines. It involves identifying and gathering the necessary resources such as finances, power, labor, raw materials, and machinery to start and operate the venture.
4. Financing the Proposition: While financing the proposition is an essential function of an entrepreneur, it is not the primary focus in the quoted lines. The emphasis is more on estimating demand and arranging resources rather than specifically financing the venture.
Therefore, the correct answer is C: Assembling the Requirements.
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“ The Entrepreneur will estimate the total demand for goods and then will think about arranging finances for the venture along with the availability of power, labor, raw materials and machinery”. Which of the following Promotional function of an Entrepreneur is highlighted in Quoted lines?a)Detailed investigationb)Discovery of an Ideac)Assembling the Requirementsd)Financing the PropositionCorrect answer is option 'A'. Can you explain this answer?
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