A ________ Is a Firm's Plan or Diagram for How

question 19

Multiple Choice

A ________ is a firm's plan or diagram for how it competes, uses its resources, structures its relationships, interfaces with customers, and creates value to sustain itself on the basis of the profits it earns.

• A) feasibility model
• B) business model
• C) strategic plan
• D) business plan
• E) competitive model

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Definitions:

Specific Tax

Tax of a certain amount of money per unit sold.

Consumers

Individuals or groups who are the final users of products and services generated within an economy.

Specific Tax

A fixed amount of tax imposed on a product, service, or transaction, regardless of its price.

Competitive Market

A market structure characterized by a large number of buyers and sellers where no single participant can significantly influence the price of goods or services.