Adding a Related or Complementary Product to a Corporation's Business

question 37

Multiple Choice

Adding a related or complementary product to a corporation's business units is called

• A) concentration.
• B) horizontal growth.
• C) concentric diversification.
• D) vertical growth.
• E) conglomerate diversification.

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Definitions:

Individual Initiative

The drive or motivation of an individual to undertake actions on their own accord, often leading to innovation or the starting of new ventures.

Price Mechanism

The process by which the forces of demand and supply determine the prices of goods and services and allocate resources in an economy.

Capitalism

An economic system in which private individuals and businesses own capital goods and the production of goods and services is based on supply and demand in the market.

Economic System

The structured way in which a country or region organizes its economic activities and allocates resources.