If an entrepreneur does not understand changing customer preferences on time, what may happen?
Answer and explanation
Correct answer: उत्पाद की मांग घट सकती है
Customer preferences influence what people consider useful, attractive, affordable, or convenient. If an entrepreneur fails to notice these changes, the product may become less relevant and customers may move to alternatives, reducing demand. The result is not certain in every case, but declining demand is the logical business risk; profit and customers cannot be assumed to rise.
Frequently asked questions
What is the correct answer to this question?
उत्पाद की मांग घट सकती है
Why is this the correct answer?
Customer preferences influence what people consider useful, attractive, affordable, or convenient. If an entrepreneur fails to notice these changes, the product may become less relevant and customers may move to alternatives, reducing demand. The result is not certain in every case, but declining demand is the logical business risk; profit and customers cannot be assumed to rise.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
