The Preferences Theory of Comparative Advantage Is Based on the Concept

question 58

Multiple Choice

The preferences theory of comparative advantage is based on the concept of

• A) product standardization and mass marketing.
• B) intraindustry competition.
• C) product differentiation.
• D) international advertising and product positioning.
• E) altering supply to meet changing demand conditions.

---

Definitions:

Niche Market

A specialized segment of the market for a particular kind of product or service with specific customer needs.

Business Plan

A document that outlines a company's goals, strategies, market analysis, financial projections, and operational structures.

Market Description

An overview or analysis of a specific market, including size, growth, trends, and demographics.

Change Management

The approach to transitioning individuals, teams, and organizations to a desired future state, managing the human aspects of change to achieve successful outcomes.