What problem can arise if the price of a handicraft product is based only on raw material?
Answer and explanation
Correct answer: Artisan time, skill and profit are ignored
Handicraft pricing must include labour and skill too. In exams, remember cost plus skill pricing.
Frequently asked questions
What is the correct answer to this question?
Artisan time, skill and profit are ignored
Why is this the correct answer?
Handicraft pricing must include labour and skill too. In exams, remember cost plus skill pricing.
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.