Developing New and Delivering High-Quality Products or Services That Command

question 45

Multiple Choice

Developing new and delivering high-quality products or services that command higher prices and margins best describes strong:

• A)marketing practices
• B)financial practices
• C)operating practices
• D)management practices

---

Definitions:

Quantity Demanded

The total amount of a good or service that consumers are willing and able to buy at a given price in a given time period.

Substitute Resources

Alternative resources that can be used in place of another for the production of goods and services.

Resource

A source or supply from which benefit is produced, typically natural, human, or capital resources used to produce goods and services.

Minimum Wage

The lowest legally allowable pay per hour for workers, set by government policy.