One of the Biggest Advantages That a Small Business Has

question 103

True/False

One of the biggest advantages that a small business has over a large business is a greater ability to serve specialized markets.

---

Definitions:

Opportunity Cost

The penalty of missing potential gains from other paths by choosing a certain option.

College Expenses

The costs associated with attending college, including tuition, fees, books, and living expenses.

Lodging

Accommodation in hotels, motels, or any other establishment that provides a place to stay for a short period.

Rational Choice

A theory in economics and sociology that suggests individuals choose the option that provides the highest level of satisfaction, assuming the availability of information and a clear preference set.