If a Business Wishes to Offer a Product or Service

question 23

Multiple Choice

If a business wishes to offer a product or service similar to one that is already in the market,they should

• A)try to make their product of service look the same as the existing product or service
• B)forget about this idea because it rarely works out well
• C)try to compete on the basis of price
• D)try to create a competitive advantage over the existing product or service

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Definitions:

Local Housing Codes

Rules and regulations established by municipal governments aimed at ensuring safe and habitable housing conditions.

Periodic Tenancy

A tenancy that automatically renews for successive periods (e.g., month-to-month, year-to-year) until either the landlord or the tenant terminates it.

Tenancy at Will

An agreement where a tenant can occupy property with the consent of the owner but with no fixed term and can be terminated by either party at any time.

Tenancy at Sufferance

A legal situation where a tenant remains in possession of property after the expiration of the lease, without the landlord's consent.