A Low-Cost Position Is Most Appropriate When

question 49

Multiple Choice

A low-cost position is most appropriate when:

• A) the power of buyers is low and barriers to entry are high.
• B) economies of scale are relatively unimportant in manufacturing products.
• C) customers have very different needs and uses for the industry's products.
• D) product innovation is the key competitive factor.
• E) industry rivalry is high and customers are very sensitive to prices.

---

Definitions:

Political Parties

Organized groups of people with similar political aims and opinions, that seek to influence public policy by getting their candidates elected to public office.

Ruling Class

A ruling class is a self-conscious, cohesive group of people in elite positions. They act to advance their common interests and are led by corporate executives.

Big Business

Large-scale enterprises or corporations that have substantial influence and power in their industries, the economy, and sometimes politics.

Social Movement

is a collective, organized effort by a large group of people to achieve a specific goal, often related to social change, through various forms of protest, advocacy, and public actions.