The Country of Cretonia Is the Only Source of the Rare

question 122

Multiple Choice

The country of Cretonia is the only source of the rare mineral zhytan used in nuclear reactors.The country of Fredonte can produce twice as much creosote as any other country using the same amount of input resources.Both nations enjoy a(n) ____ advantage.

• A)comparative
• B)resource/input
• C)absolute
• D)hard-core technological

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Definitions:

Promotional Element

A component of the marketing mix that involves activities to increase awareness, interest, and sales of a product or service, such as advertising, sales promotions, and public relations.

Product Life Cycle

Describes the stages a product goes through from when it is first introduced into the market until it declines or is removed from the market; the stages include introduction, growth, maturity, and decline.

Promotional Mix

The blend of different marketing strategies and tactics – such as advertising, public relations, personal selling, and sales promotion – used to reach the target audience, create awareness, and generate sales or achieve marketing objectives.

Decline

A phase in the product life cycle or market trend where sales or interest starts decreasing over time.