What problem may occur if an entrepreneur does not understand changing customer preferences on time?
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Answer and explanation
Correct answer: Demand for the product or service may decrease
When customer preferences change, an entrepreneur should improve the service or product. In exams, connect market change with customer feedback.
Frequently asked questions
What is the correct answer to this question?
Demand for the product or service may decrease
Why is this the correct answer?
When customer preferences change, an entrepreneur should improve the service or product. In exams, connect market change with customer feedback.
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.
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