Which of the Following Activities Can Be a Source of Both

question 33

Multiple Choice

Which of the following activities can be a source of both a low- cost advantage and a differentiation advantage?

• A)Forming long- term relationships with suppliers
• B)Developing innovative training programs
• C)Targeting customer groups
• D)Creating new products

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Definitions:

Opportunity Cost

The cost of forgoing the next best alternative when making a decision, representing the potential benefits missed out on.

Personal Income Tax

Tax levied on individuals or households based on their income level.

Raising Children

The process and practices involved in promoting and supporting the physical, emotional, social, and intellectual development of a child from infancy to adulthood.

Opportunity Cost

The economic consequence of bypassing the nearest favorable option when making a choice.