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An entrepreneur selects a supplier only because of the lowest price but receives poor-quality material late. What lesson follows?

Answer and explanation

Correct answer: Quality, reliability, and delivery time are also important

A supplier should be assessed on more than price. Poor-quality materials can cause defects or waste, and late deliveries can disrupt production. Quality, reliability, and delivery time therefore matter alongside cost, making option B correct.

Related tags

Supplier SelectionQualityReliabilityIntroduction To EntrepreneurshipEntrepreneurial Skills IArtificial IntelligenceClass 9 Mcq

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