____________Is Not a Principle Describing How a Product or Service

question 24

Multiple Choice

____________is not a principle describing how a product or service can be used to gain competitive advantage.

• A) Differentiation of a product or service
• B) Innovation of a new product or service
• C) Enhancement of a product or service
• D) Speed of a product or service

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Definitions:

Society

A structured community of people bound together by similar traditions, institutions, or nationality.

Logrolling

The trading of votes by legislators to secure favorable outcomes on decisions concerning the provision of public goods and quasi-public goods.

Diminish

To decrease or make smaller in size, importance, or intensity.

Excludability

The characteristic displayed by those goods and services for which sellers are able to prevent nonbuyers from obtaining benefits.