If the Executives of the U

question 66

Multiple Choice

If the executives of the U.S.silicon-chip industry lobby Congress for protection from imports on the grounds that several thousand workers would lose their jobs if there were a reduction in domestic silicon-chip production, they are using the:

• A) environmental standards argument.
• B) infant industry argument.
• C) job protection argument.
• D) national security argument.

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Definitions:

Differentiation Strategy

A business approach focusing on developing and marketing unique products or services to stand out from competitors and attract customers.

Market Niche

A specific segment of the market that a business targets, often characterized by unique preferences or needs.

Broader Market

Describes the extensive and wider aspects of the market, encompassing a large range of products, services, and customers.

Low-Cost Strategy

A competitive strategy where a company offers products or services at a lower price than competitors, focusing on efficiency and cost minimization.