Cost Leadership Means a Firm Must

question 14

Multiple Choice

Cost leadership means a firm must

• A)exploit all sources of cost advantage before tailoring the product to each customer.
• B)exploit all sources of cost advantage in providing customers with a standardised product.
• C)exploit all sources of cost advantage in providing each customer with their minimum requirements.
• D)exploit all sources of cost advantage while providing every customer an individual service.

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Definitions:

Join Wires

The process of connecting two or more electrical wires together to ensure a continuous flow of electricity.

Electrical Resistance

A measure of the opposition to the flow of electric current through a conductor, resulting in electrical energy being converted into heat.

Ohms

The unit of electrical resistance, representing the resistance between two points of a conductor when a voltage of one volt produces a current of one ampere.

Circuit Protection

Devices such as fuses, fuse links, and circuit breakers in an electrical circuit that stop the flow of electricity in the event that a fault occurs in the circuit. These help to protect people from injury and prevent damage to the vehicle’s electrical system.