Assertion: A problem is an opportunity in a situation, something that sets up a conflict and forces you to find a solution.
Reasoning: Problem identification increases employment and national income.
Reasoning: Problem identification increases employment and national income.
Answer & explanation
Correct answer: option 2
A problem is a roadblock in a situation, something that sets up a conflict and forces you to find a solution. When an entrepreneur identifies such a road block, he/she is said to have identified
the problem.
Uses of problem Identification: It helps the entrepreneur to: 1. Bring out new products in the market 2. Understand the problems and needs of the market 3. Be creative 4. Increase employment generation 5. Increase national income (of the country)
Uses of problem Identification: It helps the entrepreneur to: 1. Bring out new products in the market 2. Understand the problems and needs of the market 3. Be creative 4. Increase employment generation 5. Increase national income (of the country)