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Class 11Home ScienceWork, Livelihood and CareerEntrepreneurship: definition and characteristicsMediumLevel 47

Why is it necessary for an entrepreneur to know competition in the market?

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Answer and explanation

Correct answer: To decide price service and quality better

Understanding competition helps in making strategy. In exams, connect market knowledge with decision-making.

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competitionmarket strategyquality

Frequently asked questions

What is the correct answer to this question?

To decide price service and quality better

Why is this the correct answer?

Understanding competition helps in making strategy. In exams, connect market knowledge with decision-making.

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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