If a Company Is Altering the Price of Its Product

question 95

Multiple Choice

If a company is altering the price of its product to compete with the local companies in the international market, it is focusing on the _____ component of the product, according to the product component model.

• A) core
• B) support
• C) design
• D) maintenance
• E) packaging

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Definitions:

Discouraged Workers

Individuals who are not actively seeking work because they believe no jobs are available for them or there are none for which they would qualify.

Unemployed

Refers to individuals who are without a job but are actively seeking work.

Contraction

The downturn of the business cycle, when real GDP is declining.

Recovery Phase

A period within the economic cycle where activity rebounds following a recession, characterized by increasing GDP, employment, and investment.