ECONOMICS
ENTREPRENEURS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The first ride
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The third ride
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The fifth ride
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None of the rides
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Detailed explanation-1: -The main reason most people want to become their own boss is the freedom, satisfaction and flexibility it offers them. Entrepreneurs need to embrace new technology and use it to their benefit to continue growing their startups.
Detailed explanation-2: -Which is the best definition of “marginal benefit?” The added satisfaction or benefit a person gets from buying one more product or service.
Detailed explanation-3: -Knowing and understanding customer needs is at the centre of every successful business, whether it sells directly to individuals or other businesses. Once you have this knowledge, you can use it to persuade potential and existing customers that buying from you is in their best interests.
Detailed explanation-4: -Identifying a target market allows marketers to focus on those most likely to purchase the product. Limiting the population funnels research and budgets to the customers with the highest profit potential.