Question

Name the elements of business which can't be avoided or eliminated but can be minimised by firms

Answer 1

Risk is correct answer

Answer 2

Business risk is the major element that cannot be avoided or eliminated but can be minimized by the firms.

Explanation:

• The business organizations go through a number of business risks in their working and forecasting.  

• There can be business risks due to wrong forecasting or because of fluctuation in the markets.  

• There can be changes in the demand and supply of the products. Then there can be other environmental risks that can affect the business in regards to theft, fire, disaster and more.  

• The behavioural changes of the consumer affect the demand for products or maybe due to sudden competition in the market the demand for goods declines.  

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