ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -First, the alternative should match the goals and objectives of the business. Second, the alternative should match the current assessment of the strengths of the business. Third, market opportunities need to exist for the products.

Detailed explanation-2: -Option and choice are usually considered interchangeable, but an alternative is an option or choice that stands “instead of the other.”1 Thus, a person faced with numerous options (choices) will always have one more option than alternatives.

Detailed explanation-3: -The many different decisions just about everyone has to make fall into three broad categories-consumer choices, complex choices, and personal life choices.

Detailed explanation-4: -: a proposition or situation offering a choice between two or more things only one of which may be chosen. : one of two or more things, courses, or propositions to be chosen. : something which can be chosen instead.