Which of the Following Is an Example of a Factor

question 37

Multiple Choice

Which of the following is an example of a factor that a firm's owners and managers can control in making the firm successful?

• A)the ability to produce the product at a lower cost
• B)changing consumer tastes
• C)a rise in the price of a key input, for example, a rise in the price of oil leads to higher energy costs
• D)the number of competitors in the market

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Definitions:

Validity Effect

The phenomenon where a belief or a statement is more likely to be accepted as true the more it is repeated or encountered, regardless of its actual validity.

Exposure Effect

The psychological phenomenon where repeated exposure to a stimulus increases an individual's preference for that stimulus.

Contrast Effect

A psychological phenomenon wherein the perception or judgment of something is influenced by the comparison with something else, often leading to exaggeration of differences.

Appeal to Fear

A persuasive technique that attempts to influence people’s behavior by making them feel afraid of the consequences of not taking a particular action.