Economics · Entrepreneurship
What primary role does innovation play in securing the long-term survival and growth of MSMEs in a highly competitive global economic environment?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1It serves no distinct economic purpose if the firm already operates in a fixed localized market.
- 2It incentivizes firms to intentionally lower product safety and manufacturing standards.
- 3It systematically creates unsustainably high overheads that weaken structural market presence.
- 4It empowers MSMEs to create unique value propositions, differentiate products, and capture niche markets.✓
Correct answer
It empowers MSMEs to create unique value propositions, differentiate products, and capture niche markets.
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
👥
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Online Test Series
Start Free Mock Test →Preparing for Economics?
Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.
Chapter Practice
Practice Entrepreneurship MCQs →Want more practice questions on Entrepreneurship?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Economics · Entrepreneurship