Businesses Using a Low-Cost Strategy Attempt to Be Efficient and Offer

question 24

True/False

Businesses using a low-cost strategy attempt to be efficient and offer a standard,no-frills product.

---

Definitions:

Positive Contact

Interactions between different groups that are cooperative and pleasant, aimed at reducing prejudices and improving intergroup relations.

Power Distance

A cultural dimension that reflects the extent to which inequalities and hierarchical differences are accepted and endorsed by individuals and groups within a society.

Social Status

An individual's position or rank within a social hierarchy, which can be determined by factors like wealth, occupation, education, or family lineage.

Inequalities

The existence of disparities or unequal conditions in aspects such as wealth, resources, opportunities, or treatments among different groups or individuals.