ENTREPRENEURIAL OPPORTUNITIES
IDENTIFYING AND EVALUATING BUSINESS OPPORTUNITIES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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If a product becomes more easily available, what is likely to happen?
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The cost of making the product will increase.
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The product will get more competitors.
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The price will go down.
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The product will become a consumer good.
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Explanation:
Detailed explanation-1: -If a product becomes more easily available, what is likely to happen? The price will go down. A product is scarce when what happens? Demand is greater than supply.
Detailed explanation-2: -What does the graph show about the relationship between a product and its price? As the amount of a product goes up, the price goes up.
There is 1 question to complete.