A Difficult Economic Environment Exists for Service Industries for All

question 8

Multiple Choice

A difficult economic environment exists for service industries for all but one of the following reasons.

• A) Relatively high overall entry barriers.
• B) Product substitution.
• C) Minimal opportunities for economies of scale.
• D) Exit barriers.

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Definitions:

Insight

A sudden and often novel realization of the solution to a problem; it contrasts with strategy-based solutions.

Arrangement

The act or process of putting things in a particular order or configuration.

Trial-And-Error

A fundamental method of solving problems, involving multiple attempts, learning from mistakes, and trying again until success is achieved.

Possible Solutions

Refers to various alternatives or methods available for solving a problem or achieving an outcome.