Practicing Success

Target Exam

CUET

Subject

Entrepreneurship

Chapter

Entrepreneurial Opportunity

Question:
Cost variable of competitors in terms of transportation delays, wastage, storage etc., have to be studied to spot _____________advantage.
Options:
Trend
Cost
Price
output
Correct Answer:
Cost
Explanation:
It is important to determine the cost of the product and its comparison with available products in the market. Cost variable of competitors in terms of transportation delays, wastage, storage etc., have to be studied to spot cost advantage. This will influence the delivery mechanism of the identified product or service.