Scenario 1-1

question 28

Multiple Choice

Scenario 1-1. Larry Linsuine is thinking of marketing a new idea he has been using. After years of experience as a deer hunter, he has perfected a tree stand that gives him an added advantage in deer hunting. He calls his new tree stand The Tree Hugger. He has now begun the process of manufacturing his tree stands with 20 employees working out of his garage. His life savings have provided the equity for his operation.
-In Scenario 1-1, what advantage will Larry have over his competition with his new product?

• A) competitive advantage
• B) comparative advantage
• C) qualitative advantage
• D) financial advantage

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Definitions:

Block

In creative or cognitive processes, it refers to an impediment that prevents the generation of ideas or the continuation of work.

Modified Block

A format for documents where the start of each paragraph is indented, and key elements like the date and closing are positioned towards the right of the page.

Complimentary Close

A polite phrase used to end a letter or email, typically preceding the sender's signature.

Sender's Typed Name

In written communication, the printed version of the sender's name, often found at the end of a letter to identify who has sent it.