Which of the Following Statements Is True About Customer Needs

question 2

Multiple Choice

Which of the following statements is true about customer needs?

• A)Companies that meet the need for communication by manufacturing mobile handsets or mobile ham radios are considered part of the same industry.
• B)Understanding them can be very helpful in defining the boundaries of an industry.
• C)They should be addressed only when many customers have similar needs that require attention.
• D)Two firms cannot be considered part of the same industry even if their products do the same job for customers.

Understand the concept of programmed and non-programmed decisions in the context of innovation.

Understand the purpose and structure of a budgeting process.

Recognize the role and responsibilities of a budget committee.

Comprehend the sequence and interdependencies in budget preparation.

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Definitions:

Common Law Rule

A principle based on judicial decisions and customary practices rather than written laws.

Government Agency

An organization that is part of the government and conducts specific activities or services according to legal regulations.

Separation of Powers

A foundational principle of governance in which the state's powers are divided among distinct branches, typically the legislative, executive, and judiciary, to prevent abuse of power.

Federalism

A political system in which power is divided between a central (national) government and regional (state or provincial) governments.