What should a business do in competition?
Answer and explanation
Correct answer: Try to improve quality and service
Competition gives customers alternatives, so a business must try to offer better value through reliable quality, fair pricing, service, and suitable innovation. Honest improvement can strengthen customer satisfaction and loyalty. Thus option A is correct. Lying, stopping operations, or hiding prices damages trust and does not create a sound competitive advantage.
Frequently asked questions
What is the correct answer to this question?
Try to improve quality and service
Why is this the correct answer?
Competition gives customers alternatives, so a business must try to offer better value through reliable quality, fair pricing, service, and suitable innovation. Honest improvement can strengthen customer satisfaction and loyalty. Thus option A is correct. Lying, stopping operations, or hiding prices damages trust and does not create a sound competitive advantage.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: Business, Trade and Commerce. Topic: Business Risk.
