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What should an entrepreneur consider while setting the price of a product?

Answer and explanation

Correct answer: लागत, ग्राहक की भुगतान-क्षमता और बाजार मूल्य

A sensible product price should cover relevant costs and leave a reasonable profit while remaining acceptable to customers. The entrepreneur should therefore consider production and operating costs, what the target customers can afford, and the prices and conditions in the market. Personal preference, a competitor’s name alone, or shop size alone cannot provide enough information for fair and workable pricing.

Related tags

PricingCostCustomer-AffordabilityIntroduction To EntrepreneurshipEntrepreneurial Skills IArtificial IntelligenceClass 9 Mcq

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