What does it mean to make an assumption? to recognize meanings that are indirectly stated to determine the worth or strength of something to make a decision based on a series of inferences to suppose information to be fact without proof

Ron and nick chose to start their own businesses. ron wanted to start an ice cream shop, and nick wanted to launch a television manufacturing company. ron and nick had equal amounts of funds on hand and no government regulations restricting them. months later, however, ron has already set up his business, while nick is still struggling to raise additional funds to build a factory. what was the main factor that affected nick’s business? a. an irrelevant business idea b. low demand for tvs in his country c. high start-up costs d. lack of labor economics