Adding Value to the Product (Or Line) Through Additional Features

question 228

Multiple Choice

Adding value to the product (or line) through additional features or higher-quality materials is referred to as

• A) trading up.
• B) trading down.
• C) product enhancement.
• D) product extension.
• E) quality infusement.

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Definitions:

Natural Rate

A theoretical concept referring to the equilibrium level of a variable, such as unemployment or interest, under normal economic conditions without short-term distortions.

Unemployment

A situation where individuals who are capable and willing to work are unable to find employment.

Unemployment Insurance

A government program that provides temporary financial assistance to eligible workers who have lost their jobs.

Job Security

The probability that an individual will retain their job over time, often influenced by economic conditions, employer decisions, and job performance.