The Most Important of the Factors That Make a Firm

question 180

Multiple Choice

The most important of the factors that make a firm successful and that can be controlled by the firm's owners and managers are

• A)the establishment of trademarks for its products and the aggressive defense of those trademarks.
• B)lobbying government to erect or enforce entry barriers in its markets and the marketing of its products as widely as possible.
• C)the differentiation of its products and the production of products at a lower average cost than competing firms.
• D)the selection of the prices of its products and the selection of the most productive and loyal employees.

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Definitions:

Vision

The sense or ability to perceive light and distinguish objects and forms based on their visual properties.

Hearing

The sensory process by which sound is perceived through the ear, involving the detection of sound waves and their transmission to the brain.

Hearing Loss

A partial or total inability to hear sound in one or both ears.

Background Noise

Ambient sound that is not the primary focus but may interfere with or alter the perception of the main audio being listened to or recorded.