What Are the Three Sources of a Unique and Valuable

question 56

Multiple Choice

What are the three sources of a unique and valuable strategic position?

• A) few needs, many customers; broad needs, few customers; broad needs, many customers
• B) low-cost products; huge market needs; unique products
• C) many needs, few customers; little need, many customers; narrow needs, few customers
• D) poor products available; few products available; no products available
• E) bad economy; strong economy; stable economy

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Definitions:

Economic Pie

A metaphorical representation of the total wealth or economic resources available for allocation or distribution within an economy.

Average Cost

The total cost of production divided by the quantity produced, indicating the cost per unit of output.

Unlimited Resources

A theoretical scenario where resources are abundant and not finite, eliminating scarcity and its associated challenges.

Opportunity Cost

The cost of missing out on the next best alternative when making a decision or choosing to carry out one action instead of another.