An Increase in the Number of Fast- Food Restaurants

question 91

Multiple Choice

An increase in the number of fast- food restaurants

• A) increases the supply of fast- food meals.
• B) increases the demand for substitutes for fast- food meals.
• C) increases the demand for fast- food meals.
• D) raises the price of fast- food meals.

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Definitions:

Business Model Canvas

A strategic management tool that allows companies to document, discuss, and develop their business models through nine key components.

Customer Relationships

The interactions and bonds formed between a business and its customers, crucial for building loyalty and repeat business.

Customer Loyalty

The dedication of a customer to continue buying from or supporting a company's products or services over time, often due to positive experiences or satisfaction.

Value Proposition

A statement that outlines the unique benefits or value that a product or service provides to its customers.