Many Small Businesses Prosper by Sticking to Niches in a Market

question 61

True/False

Many small businesses prosper by sticking to niches in a market that are too small to attract the attention of large competitors.

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Definitions:

Labor Relations

Refers to the dynamic and governance of the workforce, including the negotiation, implementation, and enforcement of work agreements.

Utilitarianism

An ethical theory that proposes actions are right if they are useful or beneficial for the majority.

Libertarianism

A political philosophy that advocates for minimal government intervention in the lives of citizens, emphasizing individual liberty, free-market capitalism, and the rule of law.

Ethical Principles

Fundamental guidelines that dictate the standards of conduct and decision-making based on moral beliefs and values.