Question:
What is a ‘Business Opportunity’? List any two elements of Business Opportunity.
What is a ‘Business Opportunity’? List any two elements of Business Opportunity.
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Business Opportunity = Idea + Demand + Ability to supply.
Updated On: Jul 4, 2025
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Solution and Explanation
A business opportunity is an economic idea or situation that can be exploited to start a new business aimed at earning profits. It arises from identifying unmet needs or demands in the market.
Two elements of Business Opportunity:
Demand: There must be a demand or need for the product or service.
Ability to Supply: The entrepreneur must have the capability and resources to meet this demand.
Demand: There must be a demand or need for the product or service.
Ability to Supply: The entrepreneur must have the capability and resources to meet this demand.
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