The Most Important of the Factors That Make a Firm

question 180

Multiple Choice

The most important of the factors that make a firm successful and that can be controlled by the firm's owners and managers are

• A)the establishment of trademarks for its products and the aggressive defense of those trademarks.
• B)lobbying government to erect or enforce entry barriers in its markets and the marketing of its products as widely as possible.
• C)the differentiation of its products and the production of products at a lower average cost than competing firms.
• D)the selection of the prices of its products and the selection of the most productive and loyal employees.

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Definitions:

Special Price

A discounted pricing strategy applied to products or services for promotional purposes or to certain classes of customers.

European Vacation

A holiday spent in one or more countries in Europe, often characterized by visits to cultural sites, natural landscapes, and experiencing local cuisine.

Clearly Stated

Something presented or expressed in a manner that leaves no doubt about its meaning.

Silence

The absence of sound or the act of refraining from speaking; in legal contexts, it can imply consent or acceptance under certain conditions.