Which of the Following Is an Element of an Offer

question 57

Multiple Choice

Which of the following is an element of an offer strategy?

• A) the medium used for delivery
• B) the number of customers in the locality
• C) the vision of the company
• D) the skills required for production
• E) the details of customer order received

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Definitions:

Decreasing-Cost Industry

An industry characterized by a downward-sloping long-run supply curve, indicating lowering costs as industry output increases.

Increasing-Cost Industry

An industry in which production costs increase as output expands, often due to scarce resources or rising input prices.

Industry Expands

The process of a sector in the economy growing due to an increase in demand, production, and often, employment.

Allocative Efficiency

A state of the economy where the distribution of resources among different uses is optimal, ensuring that the goods being produced are what consumers prefer the most.