Identify a True Statement About the Role of Quality in Gaining

question 67

Multiple Choice

Identify a true statement about the role of quality in gaining a competitive advantage.

• A) Quality is unrelated to return on investment for most kinds of market situations.
• B) A strategy of quality improvement is usually accompanied by increased short-run profitability.
• C) Producers of high-quality goods usually charge low prices.
• D) Businesses offering premium-quality goods usually have large market shares.

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Definitions:

Computers

Electronic devices capable of executing a series of arithmetic or logical operations automatically via computer programming.

Opportunity Cost

The relinquishment of potential profits available from other avenues when one option is picked.

Machinery

The machines, equipment, and devices that are used in a variety of industries to increase efficiency in the production of goods or services.

United States

A country in North America comprising 50 states, known for its significant economic and political influence globally.