The Primary Advantage of ____ Is That Enables a Firm

question 46

Multiple Choice

The primary advantage of ____ is that enables a firm to test the feasibility of proposed changes at relatively little expense.

• A) data mining
• B) expert systems
• C) simulation
• D) artificial intelligence

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Definitions:

Market Segments

Distinct groups within a broader market that have shared characteristics, needs, or preferences, targeted differently by marketers.

Break-even Chart

A graphical representation showing the point at which total costs and total revenues are equal, indicating no net loss or gain.

Fixed Costs

Fixed costs are expenses that do not change with the level of production or sales, such as rent, salaries, and insurance.

Variable Costs

Costs that change in proportion to the level of production or business activity.