Use the Following to Answer Questions

question 27

Multiple Choice

Use the following to answer questions:
Scenario 4-2. Petro is considering opening a new small business called Petro's Playground. It will be an inside playground with climbing equipment, jungle gym, pit of balls, slides, and swings. Petro's closest competition has been in business for four years and provides quality service along with the fun of the playground. The competition is located four miles away in a large city and Petro is hoping to acquire some of his competition's market share by providing lower prices and more diversity in playground equipment.
-In Scenario 4-2 above, which advantages may Petro have initially in obtaining new customers?

• A) Lower prices and new and different equipment
• B) Good service
• C) New building
• D) Location

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Definitions:

Tangibility

Tangibility refers to the quality of being perceptible by touch or being material, as opposed to intangible assets like patents or copyrights.

Inheritance

The assets, rights, and obligations passed down to heirs or legal successors after someone dies.

Mislaid Property

Refers to personal property that is unintentionally left by its owner in a place where it is likely to be found and cared for, such as leaving a book in a cafe.

Abandoned Property

Property that has been discarded by its owner, who has no intention of reclaiming it.