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Understanding the Market — Entrepreneurship STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEntrepreneurshipUnderstanding the Market3 Marks
Question
Expansion is a very useful tool to safely increase a customer's profile. Why?
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Answer

Expansion is a very useful tool to safely increase a customer's profile. This helps to:
  1. Achieve economies of large scale production;
  2. To reduce its risk;
  3. To reduce dependence on any one market,
  4. Counter attack a global firm from snatching their customers through better products at cheap prices.
  5. Foreign markets might provide higher profit opportunities than the domestic market.

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