One Way a Small Firm Can Succeed Against Larger Competitors

question 251

Multiple Choice

One way a small firm can succeed against larger competitors is to

• A) determine their break-even point price.
• B) add value to their product offering.
• C) eliminate the fringe benefits offered to frequent customers.
• D) use break-even segmentation.

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Definitions:

Curbing Pollution

Efforts or policies aimed at reducing or controlling the emission of pollutants into the environment to protect public health and ecosystems.

Capitalism

An economic system where private individuals own capital goods, investments, and means of production, with the goal of making profits.

Market Economy

An economic system where supply and demand from consumers drive the production of goods and services, with minimal government intervention.

Supply And Demand

Basic economic concept that describes the balance between the availability of a product or service and the desire (demand) for it.