Lowering the Cost of Each Item Produced Because of High-Volume

question 14

Multiple Choice

Lowering the cost of each item produced because of high-volume production brought on by demand stimulation is

• A) brand loyalty.
• B) inelasticity of demand.
• C) economies of scale.
• D) economies of sales.

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Definitions:

Unmet Need

A consumer demand or requirement that has not been satisfied or addressed by current products or services in the market.

Fashion Boots

Footwear that is designed not just for functionality or comfort, but with an emphasis on contemporary style and trends in fashion.

Alpha Testing

The initial phase of testing a product, typically performed by internal staff, to identify bugs before it is made available for external testing.

Test Model

A representation or prototype created for the purpose of conducting tests to evaluate a concept, process, or the performance of a product under development.