________________ is an indicator of a good business idea.Question 23Answera.Good market scopeb.High competitionc.High government revenued.More resource requirement
Question
________________ is an indicator of a good business idea.Question 23Answera.Good market scopeb.High competitionc.High government revenued.More resource requirement
Solution
a. Good market scope
A good business idea is often indicated by a good market scope. This means that there is a large or growing demand for the product or service the business is offering. A good market scope suggests that there are enough potential customers to make the business profitable. It also indicates that the business idea is relevant and needed in the market.
High competition, high government revenue, and more resource requirement are not necessarily indicators of a good business idea. High competition can make it difficult for a new business to establish itself, high government revenue doesn't directly relate to the success of a business idea, and more resource requirement could potentially make the business less profitable.
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