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Question
Assertion (A): Changes in fashions and tastes of consumers may shift demand in the market from existing products to new ones.
Reason (R): Business environment is dynamic, i.e., it keeps on changing in consumer preferences.
Options
Both (A) and (R) are true, and (R) is the correct explanation of (A).
Both (A) and (R) are true, but (R) is not the correct explanation of (1).
(A) is true, but (R) is false.
(A) is false, but (R) is true.
MCQ
Solution
Both (A) and (R) are true, and (R) is the correct explanation of (A).
Explanation -
The business environment is dynamic, meaning it is constantly changing, whether due to technical advancements, shifts in client preferences, or the introduction of new competitors into the market.
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