What is the simple purpose of a market survey?
Answer and explanation
Correct answer: Collecting information about customers and the market
A market survey systematically gathers information from or about potential customers and the market. It may explore preferences, demand, prices, competition, and buying behaviour, helping an entrepreneur make better decisions. Therefore option A is correct. Hiding a business, stopping customers, or deciding without information defeats the purpose of a survey.
Frequently asked questions
What is the correct answer to this question?
Collecting information about customers and the market
Why is this the correct answer?
A market survey systematically gathers information from or about potential customers and the market. It may explore preferences, demand, prices, competition, and buying behaviour, helping an entrepreneur make better decisions. Therefore option A is correct. Hiding a business, stopping customers, or deciding without information defeats the purpose of a survey.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
