A Group of People Who Work Together to Achieve Some

question 73

Multiple Choice

A group of people who work together to achieve some specific purpose is/are called

• A)managers.
• B)a collaboration.
• C)a team.
• D)an organization.
• E)a community.

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Definitions:

Total Profits

The total income a business earns after subtracting all expenses.

Monopolistic Competitor

A firm that has many competitors, but sells a product that is differentiated from others, allowing for some control over market price.

Product Promotion

A marketing strategy aimed at increasing consumer awareness of a product or brand, generating sales, and creating brand loyalty.

Product Differentiation

The method of differentiating a product or service from competitors in the marketplace to increase its appeal to a specified target audience.