The Reason Buffalo Were Driven to Extinction While at the Same

question 77

Multiple Choice

The reason buffalo were driven to extinction while at the same time cattle were thriving is that:

• A)cattle were owned by ranchers whereas buffalo were wild.
• B)demand for buffalo meat was low,discouraging production.
• C)Western expansion required killing the Indian's main resource.
• D)the price of buffalo hides was very low.

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Definitions:

Innovative Products

Products that introduce new features, functionalities, or technologies to meet emerging consumer needs or to open new markets.

Oligopolistic Competition

A market structure in which a few firms dominate, each with a significant share of the market, leading to limited competition and high barriers to entry.

Price Wars

A competitive strategy where companies reduce prices of goods or services in succession to undercut competitors, with potential negative effects on industry profits.

Penetration Pricing Strategy

A pricing tactic in which a product is offered at a low price during its initial offering to attract customers and gain market share.