Question

The term "frugal innovation" in rural entrepreneurship refers to:

• A. Copying successful business models from cities
• B. Developing cost-effective solutions using limited resources
• C. Making luxury products for urban markets
• D. Following complex technological processes

Answer 1

Answer:

B. Developing cost-effective solutions using limited resources

The term "frugal innovation" in rural entrepreneurship refers to the process of developing affordable, simple, and resource-efficient solutions that address specific needs within resource-constrained rural settings.