Practicing Success

Target Exam

CUET

Subject

Entrepreneurship

Chapter

Entrepreneurial Opportunity

Question:
While assessing market, the _____________ refers to the complete picture of quantities of the product made available in the market by all the existing players.
Options:
Demand
Supply position
Innovation
Cost of product
Correct Answer:
Supply position
Explanation:
While assessing market, supply position is also studied by entrepreneurs. By supply position what is meant is the complete picture of quantities of the product made available in the market by all the existing players. It should take into account future supplies from possible entrants in the field.