A Low-Cost Position Is Most Appropriate When

question 49

Multiple Choice

A low-cost position is most appropriate when:

• A) the power of buyers is low and barriers to entry are high.
• B) economies of scale are relatively unimportant in manufacturing products.
• C) customers have very different needs and uses for the industry's products.
• D) product innovation is the key competitive factor.
• E) industry rivalry is high and customers are very sensitive to prices.

Understand the application of green marketing and its impact on both businesses and consumers.

Understand the concept of usury and the legal consequences of exceeding lawful interest rates.

Grasp the general legal capacity needed to enter into binding contracts and the exceptions.

Recognize the circumstances under which contracts can be void, voidable, or enforceable.

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Definitions:

Ethical Lapse

A temporary failure to maintain ethical standards, resulting in behavior that is morally wrong or violates company policies.

Transparency

The practice of being open, honest, and straightforward about various aspects of a business or project.

Social Media

Platforms and technologies that enable users to create, share content, and participate in social networking online.

Consumers

Individuals or groups who purchase goods and services for personal use.