Product-Market Screening Criteria Should Be

question 243

Multiple Choice

Product-market screening criteria should be:

• A) quantitative.
• B) qualitative.
• C) realistic and achievable.
• D) all of these are correct.

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Definitions:

Comparative Advantage

The ability of an entity to produce a good or service at a lower opportunity cost than others.

Opportunity Costs

The cost of forgoing the next best alternative when choosing among multiple options, measuring the trade-off involved in any decision.

Opportunity Cost

The value of the best alternative forgone when a choice is made, representing the benefits one could have received by taking an alternative action.

Gains From Trade

The benefit that entities receive from engaging in voluntary trade, often resulting in better allocation of resources and increased efficiency.