A Niche Is Characterized as Being All of the Following

question 11

Multiple Choice

A niche is characterized as being all of the following EXCEPT that ________.

• A) the customers in the niche have a distinct set of needs
• B) the customers will pay a premium to the firm that satisfies their needs
• C) the niche is not likely to attract other competitors
• D) the customers generally have smaller amounts of income
• E) the nicher gains certain economies through specialization

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Definitions:

Full Employment

A condition in an economy where all accessible labor resources are utilized in the most effective manner.

Expected Rate Of Profit

The anticipated return on an investment, considering potential risks and rewards.

Recessions

Periods of economic decline lasting more than a few months, typically visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.

Government Spending

Expenditures by the government sector including spending on goods and services, public works, social services, and transfer payments.