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If a woman does not know the correct cost of her work, what is the biggest risk?

Answer and explanation

Correct answer: She may sell the product or service below its cost

When the correct cost is unknown, she may fail to include the costs of materials, labour, transport and other expenses in the price. As a result, she may sell the product or service below its cost and incur a loss instead of earning a profit. Charging too much can also affect sales, but underpricing is the most direct risk of not knowing the cost. Exam tip: Include all direct and indirect expenses in the cost price before fixing the selling price.

Related tags

Women And WorkWork CostingPricingEntrepreneurshipProfit And LossWomen And Work: Issues And ConcernsWomen And Work Issues And ConcernsWorkLivelihood And Career

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