Autumn Has Run a Successful Full Service Spa for the Past

question 23

Multiple Choice

Autumn has run a successful full service spa for the past 10 years.This year she decided to open a nail boutique, which specializes in manicures and pedicures on the go.This is an example of ____________.

• A) Market expansion
• B) Product expansion
• C) Product usage
• D) Indirect competition
• E) Direct competition

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Definitions:

Prisoner's Dilemma

A situation in game theory where two individuals acting in their own self-interest do not produce the optimal outcome.

Lockout

A situation where an employer prevents employees from entering the workplace, typically during a labor dispute.

Simultaneous Move Game

A strategic scenario in game theory where all players make their decisions at the same time, without knowing the choices of others.

Union

An organization formed by workers in the same sector or industry to protect their rights and interests.