Why Is It Important to Talk to Others Who Have

question 59

Multiple Choice

Why is it important to talk to others who have used crowdfunding?

• A)You will get a better idea of what to do and what to avoid in your campaign.
• B)You can engage them in your own campaign.
• C)You can gain valuable information about their product or service.
• D)It is a networking opportunity.

---

Definitions:

Product Differentiation

The process of distinguishing a product or service from others, to make it more attractive to a particular target market.

Economic Profits

The difference between a firm's total revenues and its total costs, including both explicit and implicit costs.

Normal Profits

The level of profit that is necessary for a company to remain competitive in the market, often seen as the minimum acceptable return.

Short Run

Refers to a period in economics where certain inputs or resources are fixed and cannot be changed, contrasting with the long run where all factors are variable.