_____ Means Trying to Increase Sales by Selling Present Products

question 234

Multiple Choice

_____ means trying to increase sales by selling present products in new markets.

• A) Differentiation
• B) Market development
• C) Product development
• D) Diversification
• E) Market penetration

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Definitions:

Loan Period

The duration of time from the initiation of a loan to its final due date, within which the borrower is expected to repay the borrowed amount along with interest.

Interest Rate

The percentage of a sum of money charged for its use, typically expressed as an annual percentage rate.

Economic Resource

Assets, materials, or inputs used to produce goods and services and satisfy human wants, including land, labor, capital, and entrepreneurship.

Capital

Man-made physical objects (factories, roads) and intangible ideas (the recipe for cement) that do not directly satisfy human wants but which help to produce goods and services that do satisfy human wants; also called capital goods. One of the four economic resources.