ECONOMICS

Detailed explanation-1: -Business Studies is one of the Commerce subjects that covers topics related to business, marketing, finance, economics, accountancy, and organizational studies. Business Studies MCQs: This section contains multiple-choice questions and answers on Business Studies.

Detailed explanation-2: -An entrepreneur who is the owner of more than one business is called: Portfolio Entrepreneur.

Detailed explanation-3: -Marginal cost is the expense incurred by a business for producing an additional unit of a good or service. It is calculated by taking the total cost of producing additional products and dividing it by the total number of extra units produced.

Detailed explanation-4: -The most common reasons small businesses fail include a lack of capital or funding, retaining an inadequate management team, a faulty infrastructure or business model, and unsuccessful marketing initiatives.