The Ability to Engage in Product Differentiation Is One of the Factors

question 94

True/False

The ability to engage in product differentiation is one of the factors a manager or owner of a firm can control in order to create value for consumers.

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Definitions:

Proletariat

The class of wage-earners in a capitalist society, who, lacking substantial control over the means of production, sell their labor to live.

Bourgeoisie

The social class that owns the means of production during modern industrial capitalism, typically contrasted with the working class or proletarians.

Class Consciousness

The awareness of one's social class and the sense of shared interests with others in the same class, often in contrast to opposing classes.

Functional Imperatives

Fundamental needs that must be met in any social system for it to survive and operate efficiently, such as adaptation, goal attainment, integration, and latency.