Which of the Following Practices Can Help Businesses Gain a Cost

question 14

Multiple Choice

Which of the following practices can help businesses gain a cost competitive advantage?

• A)Innovating simplified production techniques
• B)Using expensive raw materials
• C)Customizing products with extra frills
• D)Manufacturing products in smaller quantities

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Definitions:

Nonbreaching Party

A nonbreaching party is a party in a contract who has fulfilled their obligations and has not violated the terms of the contract.

Damages

Monetary compensation required to be paid as a remedy for loss or injury suffered as a result of a breach of contract or tort.

Breach of Contract

A violation of any agreed-upon terms or conditions in a contract.

Anticipatorily Repudiated

A declaration made by a party to a contract indicating they will not fulfill their future obligations under the contract before the performance is due.