Table 6-1 -Refer to the Table 6-1

question 164

Multiple Choice

Table 6-1
$$\begin{array} { | l | l | l | } \hline \text { Year } & \text { Peaches } & \text { Pecans } \\\hline 2012 & \$ 14 \text { per bushel } & \$ 9 \text { per bushel } \\\hline 2013 & \$ 12 \text { per bushel } & \$ 14 \text { per bushel } \\\hline\end{array}$$
-Refer to the Table 6-1.What was the inflation rate in 2013?

• A)25 percent
• B)20 percent
• C)5 percent
• D)4 percent

---

Definitions:

Compete On Quality

a business strategy where companies focus on offering higher quality products or services instead of competing on prices.

Product Differentiation

The strategy of distinguishing a product from others in the market by emphasizing its unique features, benefits, and attributes.

Size Distribution

Refers to the variation in size among entities in a population, such as companies within an industry or incomes among individuals.

Market Power

The ability of a company or entity to influence the price or terms of products in the market to its advantage, often because of its size or market share.