Which of the Following Statements Best Describes a Characteristic of Geographic

question 15

Multiple Choice

Which of the following statements best describes a characteristic of geographic specialization focus strategies?

• A)Offers a variety of products and/or sells to a variety of customer groups within a narrow geography
• B)Offers an array of product varieties to a limited class of customers
• C)Caters to the particular needs of the customer group served
• D)Offers a limited set of products to an array of different customer groups
• E)Does an especially good job satisfying a subset of the needs of the consumer groups being served

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Definitions:

Utility Maximizing

The act of choosing the combination of goods and services that maximizes a consumer's satisfaction or happiness with a given income.

Marginal Utility

The additional satisfaction or utility received by consuming one more unit of a good or service.

Soft Drinks

Non-alcoholic beverages that are usually carbonated and contain various flavorings and sweeteners.

Chips

Thin slices of potatoes, vegetables, or other foods, fried or baked until crispy, commonly served as a snack or side dish.