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An entrepreneur produces a very large quantity without market testing. What is the main entrepreneurial error?

Answer and explanation

Correct answer: Taking an uncontrolled risk

Producing a large quantity before checking customer demand can lock money into unsold stock, increase storage costs, and cause avoidable losses. A responsible entrepreneur usually tests the market on a small scale, collects feedback, and then expands production. Thus, the main error is uncontrolled risk-taking in option C. The situation does not mainly show poor innovation, excessive communication, or excessive customer service.

Related tags

Risk-TakingMarket-TestingEntrepreneurial Decision-MakingIntroduction To EntrepreneurshipEntrepreneurial Skills IArtificial IntelligenceClass 9 Mcq

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