Question
Which of the following statements about Business are
correct? Vision and mission are optional for a successful business. Financial management is crucial for efficient resource allocation and profitability. Understanding market demand is essential for aligning products or services with customer needs. Businesses do not need to adapt to changing market trends.Solution
Explanation: Statement 1 is incorrect because vision and mission are foundational for guiding a business. Statement 2 is correct as financial management ensures efficient resource use and profitability. Statement 3 is correct since understanding market demand helps meet customer expectations. Statement 4 is incorrect because businesses must adapt to market trends to remain competitive.
Law of diminishing returns only applies to cases where
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What is the dual problem for given linear programming problem?
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x1 + 2x2 + x...
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The main objective of the Bank for International Settlements (BIS) is often described as:
What is the probability of getting the sum as a prime number if two dice are thrown?
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