Which of the Following Was Not Identified as a Way

question 79

Multiple Choice

Which of the following was not identified as a way for the typical small business to establish a competitive advantage?

• A)Lowering prices
• B)Providing higher quality goods or services
• C)Improving customer service
• D)Doing whatever the company does for its customers better than its competitors

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Definitions:

Trademarks

Distinctive signs or symbols used by a company to identify and distinguish its products or services from those of others.

Property Rights

The legal rights to possess, use, and dispose of assets including real estate, intellectual property, and personal possessions.

Economic System

A particular set of institutional arrangements and a coordinating mechanism for solving the economizing problem; a method of organizing an economy, of which the market system and the command system are the two general types.

Institutional Arrangements

The set of policies, norms, and regulations that shape the behavior of individuals and organizations within a society.