Product Differentiation Refers to The

question 99

Multiple Choice

Product differentiation refers to the:

• A) ability of the buyer of a product to negotiate a lower price.
• B) response of incumbent firms to new entrants.
• C) belief by customers that a product is unique.
• D) fact that as more of a product is produced the cheaper it becomes per unit.

---

Definitions:

Congress

The legislative body of the federal government in the United States, composed of the House of Representatives and the Senate.

Craft Lines

Specific types of skilled work or trades, often involving handmade goods or artisanal production methods.

Industrial Lines

The categorization of businesses based on their primary industrial activity or the product they manufacture or sell.

AFL Split

The division within the American Federation of Labor, a major U.S. labor union, often relating to disputes over union strategies or policies.