The Criteria for Competitive Strategies Are

question 18

Multiple Choice

The criteria for competitive strategies are:

• A)product, price and place
• B)people, prices and processes
• C)uniqueness, value and difficult to imitate
• D)barriers to entry, rivalry, power of customers, power of suppliers
• E)strengths, opportunities, and core competencies

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Definitions:

Price of Gas

The cost per unit (usually per gallon or liter) of gasoline, which can vary based on factors like location, demand, and taxes.

Backward-Bending Labor Supply Curve

A labor supply curve that illustrates how an individual's supply of labor can decrease as wages increase beyond a certain point, due to the preference for leisure over income.

Substitution Effect

The change in consumption patterns due to a change in the relative prices of goods or services.

Income Effect

How an alteration in the income of an individual or an economy influences the demand for a specific good or service.