A Market Leader on the Look Out for More Usage

question 94

Multiple Choice

A market leader on the look out for more usage from existing customers should focus on increasing the frequency of consumption and ________.

• A) decreasing the product price
• B) the product line
• C) the amount of consumption
• D) decreasing production turnover time
• E) diversifying into unrelated markets

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Definitions:

Demand for Labor

The total amount of workers that employers want to hire at a given wage rate and time.

Productivity of Labor

The output per labor hour or worker, indicating how efficiently labor is used in the production of goods and services.

Labor Resource Market

The market in which individuals offer their labor to employers in exchange for wages.

Substitute Input

An alternative resource or material used in the production process that can replace another in response to changes in market conditions or prices.