Which of the Following Is True of Competition in Product-Markets

question 61

Multiple Choice

Which of the following is true of competition in product-markets?

• A) The cost of labor does not affect the product market as it is an insignificant part of an organization's costs.
• B) Product-market considerations are of particular concern to a company when its customers place greater importance on product rather than price.
• C) Organizations in a product market are competing to serve the same customers.
• D) Product markets place a lower limit on the pay an organization will offer its employees.
• E) Organizations must increase the cost of labor every quarter.

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Definitions:

Military Service Chiefs

The senior leadership of the various branches of the military, responsible for overall management and operational readiness.

National Guard

A reserve military force composed of state National Guard militia members or units under both state and federal control.

State Department

A federal executive department responsible for carrying out U.S. foreign policy and managing diplomatic relations.

Primary Mission

The fundamental purpose or goal that an organization or project is established to achieve.