The Risk of Being the Lower-Cost Producer of a Good

question 121

Multiple Choice

The risk of being the lower-cost producer of a good or service is:

• A)your business will fail more quickly.
• B)your business will generate excess cash and will incur higher taxes.
• C)your business will have problems keeping up with demand.
• D)customers will abandon your business when someone else offers a lower price.

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Definitions:

Cyber Invasion

Unauthorized and malicious intrusion into personal, governmental, or business digital systems or networks.

Data Mining

The process of analyzing large sets of data to discover patterns, trends, and relationships that can inform decision making.

Privacy

The right of individuals to keep their personal information secure and free from unauthorized disclosure.

Confidentiality Agreement

A legal contract between at least two parties that outlines confidential material, knowledge, or information that the parties wish to share with each other for certain purposes but wish to restrict access to or by third parties.