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Before production, an entrepreneur estimates how many units will be demanded. Which function is this?

Answer and explanation

Correct answer: Demand forecasting

Demand forecasting is the estimation of future demand for a product or service. It helps the entrepreneur decide how much to produce, arrange materials and labour, and avoid excessive stock or shortages. Record keeping records past information, conflict resolution handles disputes and employee selection concerns hiring. Thus option C is the correct function.

Related tags

Demand ForecastingProduction PlanningSalesQualities And Functions Of An EntrepreneurEntrepreneurial Skills IArtificial IntelligenceClass 9 Mcq

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