The Purpose of __________ Is to Expand the Firm's Business

question 133

Multiple Choice

The purpose of __________ is to expand the firm's business operations to produce new kinds of valuable products and services.

• A) retrenchment
• B) diversification
• C) differentiation
• D) cost leadership
• E) internal growth

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Definitions:

Sellers

Persons or organizations that provide products or services to be purchased in the marketplace.

Price Ceiling

A maximum price sellers are allowed to charge for a good or service; a form of price control.

Excise Tax

is a tax applied to specific goods or services, such as alcohol or tobacco, usually with the aim of reducing consumption or raising revenue.

SUVs

Sport Utility Vehicles, a category of motor vehicles which combine elements of road-going passenger cars with features from off-road vehicles.