When a Firm Tries to Increase Sales by Selling Its

question 275

Multiple Choice

When a firm tries to increase sales by selling its present products in new markets, this is called:

• A) market penetration.
• B) market development.
• C) product development.
• D) diversification.
• E) market integration.

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Definitions:

Deport

To forcibly remove a person from a country, typically based on legal grounds or as a consequence of violating immigration laws.

Recession

An interval of brief economic contraction characterized by diminished trade and industrial output, usually noted by a decline in GDP for two successive quarters.

Union Membership

The status of being a member of a labor union, which is an organization that represents workers' interests, such as wages and working conditions.

Private Sector

The private sector encompasses all businesses and industries that are not owned or operated by the government and operate for profit.