A Product Strategy That Includes a New Product That Is

question 30

Multiple Choice

A product strategy that includes a new product that is quite different from existing products:

• A)can be more challenging to manage.
• B)is often used by small businesses.
• C)will likely determine the future direction of the business.
• D)is encouraged, as long as it represents no more than half of the business's product offerings.

Identify different types of misrepresentation and their impact on contract validity.

Examine the legal and ethical considerations in scenarios involving undue influence, duress, and economic pressures.

Understand the conditions under which contracts can be rescinded due to mistakes, fraud, or duress.

Differentiate between innocent and fraudulent misrepresentation and their respective remedies.

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Definitions:

Units

Basic quantities or measures adopted to quantify and measure goods, services, or any other items.

Production Function

A mathematical representation that explains how inputs in production are related to the goods or services produced.

Proportions

Ratios or fractions that express the relationship of one part to another or to the whole with respect to quantity, size, or amount.

Profit

The financial gain achieved when the revenue from business activities exceeds the expenses, costs, and taxes needed to sustain the activity.