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What is one proper way to reduce the chance of business loss?

Answer and explanation

Correct answer: Studying costs and the market

Studying costs helps an entrepreneur estimate the money needed for materials, labour, delivery, and other operations. Studying the market helps understand customers, demand, competition, and suitable prices. Together, these activities support realistic planning and reduce avoidable loss, although they cannot guarantee success. Unplanned spending and ignoring records or customers increase uncertainty.

Related tags

Loss PreventionCost StudyMarket StudyIntroduction To EntrepreneurshipEntrepreneurial Skills IArtificial IntelligenceClass 9 Mcq

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