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Question : Statement 1: Entrepreneurship development leads to increased competition and market efficiency.

Statement 2: New businesses entering the market create choices for consumers and encourage existing firms to improve.

Option 1: Both statements are true.
 

Option 2: Statement 1 is true, but statement 2 is false.
 

Option 3: Statement 2 is true, but statement 1 is false.

 

Option 4: Both statements are false.


Team Careers360 3rd Jan, 2024
Answer (1)
Team Careers360 5th Jan, 2024

Correct Answer: Both statements are true.


Solution : The correct answer is (a) Both statements are true.

Statement 1 is accurate as entrepreneurship development can lead to increased competition and market efficiency.

Statement 2 is also true. New businesses entering the market often create choices for consumers, and the competition encourages existing firms to improve their products, services, or efficiency to remain competitive.

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