VisionZed Inc

question 9

Multiple Choice

VisionZed Inc., a computer software company, spends a lot of finances on research.It tries to implement the latest technologies available and provides services that are matchless when compared to any of its competitors.At the same time, Xtron Technologies Corp., another computer software company, pays half the price that VisionZed pays on research as it combines the intelligence of different software companies and creates its product.This enables Xtron to have a cost advantage over VisionZed.Xtron Technologies Corp.is an example of a company that eliminates steps in the _____.

• A)supply chain
• B)growth chain
• C)value chain
• D)pricing chain

Recognize how economic events like sales or price changes can affect both existing and potential consumers differently.

Understand the concept of consumer surplus and how changes in market conditions affect it.

Recognize the effects of price floors and price ceilings on consumer surplus.

Interpret graphical representations of changes in consumer surplus due to price changes.

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Definitions:

Innovating Business Strategies

Refers to the creation and implementation of new and unique strategies in business operations aimed at achieving competitive advantage and meeting changing market demands.

Hands-On

The term 'hands-on' refers to actively engaging in tasks rather than observing or directing, emphasizing practical experience and involvement.

Humility

A personal quality of modesty and respect for others, often seen as a virtue in leadership and personal relationships.

Group Performance

The sum of the output or results achieved by multiple individuals working together in a team or group setting.