An Idea or Explanation for Something That Is Based on Known

question 169

Multiple Choice

An idea or explanation for something that is based on known facts but not yet proven is known as a(n) ____.

• A)hypothesis
• B)theory
• C)ad hoc test
• D)independent variable

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Definitions:

Best-Cost Provider

A strategy where a company aims to offer products or services that are of high quality and relatively low cost to attain a competitive advantage.

Porter's

Porter's frameworks involve strategic tools created by Michael Porter, such as the Five Forces analysis and the Value Chain, used for assessing the competitive environment and organizational capabilities.

Locally Grown

Refers to products, especially food items, that are produced and consumed within a relatively small geographic area.

Mission

The fundamental purpose of an organization, stated in a way that captures its goals, underlying philosophies, and core values.