If an entrepreneur keeps product price very low and cannot even recover cost, what is the main management problem?
Answer and explanation
Correct answer: Weakness in pricing and cost calculation
Correct price is decided by considering cost and fair profit. In exams, connect pricing with financial discipline.
Frequently asked questions
What is the correct answer to this question?
Weakness in pricing and cost calculation
Why is this the correct answer?
Correct price is decided by considering cost and fair profit. In exams, connect pricing with financial discipline.
Which subject and chapter does this question cover?
This is a Class 11 Home Science question. Chapter: Work, Livelihood and Career. Topic: Entrepreneurship: definition and characteristics.