Update

Muft Shiksha™ एक 100% Free Education Portal है 🇮🇳, जिसका उद्देश्य Class 9–12 के हर विद्यार्थी तक High-Quality Education को पूरी तरह मुफ्त पहुँचाना है। 🇮🇳 हम मानते हैं कि अच्छी शिक्षा किसी student की आर्थिक स्थिति पर निर्भर नहीं होनी चाहिए। 🇮🇳 हर विद्यार्थी को वही Quality Study Material, MCQs, Quizzes, Exam Preparation, Concept-Based Learning और Bilingual Support मिलना चाहिए, जो आमतौर पर महंगी Coaching या Premium Platforms में मिलता है। Muft Shiksha™ 🇮🇳 इसी सोच के साथ बनाया गया है

Subjects
0 reads0 ratings0 helpful

An entrepreneur considers cost customer affordability and competition while setting a product price. Which function does this illustrate?

Answer and explanation

Correct answer: Pricing

Setting a product’s price after considering cost, customers’ ability to pay and competitors’ prices is the function of pricing. Employee selection involves choosing suitable workers, while resource purchase involves arranging raw materials or other inputs. Exam tip: Link clues such as cost, customer demand or affordability, and competition with pricing.

Related tags

EntrepreneurshipPricingCustomer AffordabilityCompetitionCostEntrepreneurial FunctionsQualities And Functions Of An EntrepreneurEntrepreneurial Skills I

Was this question useful?

No ratings yetWrite a review / Rate this question

Student Reviews

No published reviews yet.

Add Muft Shiksha to your Home Screen

In Safari, tap Share, then Add to Home Screen.