Which of the Following Resources Is Necessary to Combine Efficiently

question 33

Multiple Choice

Which of the following resources is necessary to combine efficiently the other resources to produce goods and services?

• A)natural resources
• B)capital
• C)labor
• D)entrepreneurial ability
• E)financial institutions

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Definitions:

Penetration Pricing

Penetration pricing is a marketing strategy used to attract customers to a new product or service by offering a lower price initially.

Penetration Pricing

A pricing strategy where a product is priced lower than the competition to attract customers and gain market share quickly.

Mass Market

Refers to the large, undifferentiated market of consumers with a wide range of product needs and preferences, often targeted by companies with products of broad appeal.

Penetration Pricing

A pricing strategy where a product is introduced to the market at a low price to attract customers and gain market share quickly.