A Sound,well-Controlled Production Cycle Can Provide a Competitive Advantage By

question 1

Multiple Choice

A sound,well-controlled production cycle can provide a competitive advantage by:

• A)providing high-quality,lower cost products
• B)manufacturing a unique product range in-house
• C)providing price leadership
• D)All of the options are correct.

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Definitions:

Overhead Expenses

costs related to the day-to-day running of a business but not directly tied to producing goods or services.

Selling Price

The amount of money for which a seller offers a product or service to the buyer.

Rate of Profit

A measurement, usually expressed as a percentage, reflecting the profitability of an investment or business compared to the initial cost.

Overhead Expenses

Indirect costs of a business that are not directly linked to a specific product or service, such as rent, utilities, and administrative expenses.