Which of the Following Is an Example of a Competitive

question 32

Multiple Choice

Which of the following is an example of a competitive strategy employed by a firm?

• A) increasing the price of its product when raw material prices increase
• B) laying off staff in order to cut down costs during a recession period
• C) advertising its products nationwide like its competitor organizations
• D) launching a unique product targeted at a section of consumers

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Definitions:

Socialization

The process through which individuals learn and internalize the values, beliefs, and norms of their society or social group.

Hidden Curriculum

Lessons, morals, and perspectives not formally documented or intended, yet acquired by students through their school experience.

Racial-Minority Families

Families that are identified as part of a racial group that makes up a smaller percentage of the total population compared to other racial groups.

Skeptical

Having an attitude of doubt or a disposition to incredulity either in general or toward a particular object.