Which of the Following Is a Consequence of Competition

question 66

Multiple Choice

Which of the following is a consequence of competition?

• A)An unrelenting squeeze on prices and profit.
• B)Positive economic profit in the long run.
• C)Elimination of the most efficient firms.

Recognize the value and components of mission, vision, and brand statements in defining an organization's direction and purpose.

Identify the importance of continuous evaluation and adaptation in social media campaigns.

Understand the relevance of organizational structure and key player roles in designing and implementing social media campaigns.

Elucidate the significance of psychographics in understanding social media audiences.

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Definitions:

Advertising Expense

Costs incurred by a company to promote its products, services, or brand, including media buys, production, and creative services.

Direct Materials

Raw materials that are directly traceable to the manufacturing of a product and are significant in cost.

Sales Commissions

Fees paid to salespeople or brokers for facilitating or closing sales, usually calculated as a percentage of the sales value.

Direct Labor

The wages or costs associated with employees who directly contribute to the manufacture of a product or delivery of a service.