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Class 11Home ScienceWork, Livelihood and CareerTraditional occupations in India - HandicraftsHardLevel 10

What is the main risk management benefit of product diversification in handicrafts?

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Answer and explanation

Correct answer: If demand for one product falls, income can come from another product

Diverse products can reduce income risk. In exams, link diversification with risk reduction.

Tags

handicraftsproduct-diversificationrisk-managementincome

Frequently asked questions

What is the correct answer to this question?

If demand for one product falls, income can come from another product

Why is this the correct answer?

Diverse products can reduce income risk. In exams, link diversification with risk reduction.

Which subject and chapter does this question cover?

This is a Class 11 Home Science question. Chapter: Work, Livelihood and Career. Topic: Traditional occupations in India - Handicrafts.

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10 more MCQs
  1. 1What is the simplest meaning of handicraft?
  2. 2Why are handicrafts considered a traditional occupation in India?
  3. 3Making clay pots is an example of which traditional occupation?
  4. 4What is the main asset of an artisan in handicrafts?
  5. 5Why is use of local material important in handicraft products?
  6. 6Wood carving is related to which work?
  7. 7What mainly affects the beauty of a handicraft product?
  8. 8A handmade basket can commonly be made from which material?
  9. 9What is the main benefit of training in handicrafts?
  10. 10How can family participation be seen in a handicraft occupation?
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