Public Goods and Services Have Characteristics That Make Them

question 47

Multiple Choice

Public goods and services have characteristics that make them

• A)Possible to exclude people from consuming them
• B)Less available for one person when another consumes them
• C)Easy to provide through private markets
• D)All of the above
• E)None of the above

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Definitions:

Strategic Planning

The process of defining a company’s strategy or direction and making decisions on allocating resources to pursue this strategy.

Tactical Planning

Short-term, detailed planning that supports strategic goals by focusing on day-to-day operations and resources.

Operational Planning

The process of creating specific procedures and actions to achieve tactical goals and objectives within a short time frame.

Competitive Differentiation

Unique combination of organizational abilities, products, and approaches that sets a company apart from competitors in the minds of customers.