Need for Innovation and Value Addition — Practice Quiz
NIOS · Class 10 · Entrepreneurship
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Quick Quiz: Need for Innovation and Value Addition
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What is innovation quickly becoming in business today?
An idea in business is centered on what?
What is the basic requirement before turning an idea into business?
To invent means to do what?
Sample Questions
What is innovation the process of?
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Transforming creative ideas into useful products, services or methods of operation
Innovation is the process of transforming creative ideas into useful products, services or methods of operation.
Which is one of the three concepts of innovation?
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Creativity
Creativity is one of the three concepts of innovation, along with improvements and inventions.
What does value addition mean?
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Adding value to a product or service
Value addition literally means adding value to a product or service.
An activity is considered value-added when the customer is willing to do what?
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Pay extra money for the additional output
An activity is considered value-added when the customer is willing to pay extra money for the additional output.
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