Which of the Following Can Be Changed Quickly to Stimulate

question 71

Multiple Choice

Which of the following can be changed quickly to stimulate demand or respond to competitors' actions?

• A) Product
• B) Place
• C) Promotion
• D) Price
• E) Planning

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Definitions:

North Korea

An East Asian country officially known as the Democratic People's Republic of Korea, noted for its centralized economy and autocratic government.

Specialization

The use of the resources of an individual, a firm, a region, or a nation to concentrate production on one or a small number of goods and services.

Production

The act of creating goods or services using labor, equipment, and natural resources.

Coincidence-of-wants

A situation in barter economies where two parties each have something the other wants, facilitating a direct exchange without the need for money.