A Factor That Might Doom a Product in the Marketplace

question 138

Multiple Choice

A factor that might doom a product in the marketplace is referred to as

• A) an albatross.
• B) a land mine.
• C) a pitfall.
• D) a showstopper.
• E) a wild card.

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Definitions:

Equilibrium

A state in a market where supply equals demand, leading to a stable situation where there is no tendency for prices to change, assuming other factors remain constant.

Scarcity

The fundamental economic problem of having limited resources to meet unlimited wants and needs.

Trade-Off

A situation that involves losing one quality, quantity, or property of a set or design in return for gaining another.

Inflation

The speed at which the overall price level for goods and services increases, thereby diminishing the buying power.