_____ Is a Value Benefit That Can Come from the Products

question 5

Multiple Choice

_____ is a value benefit that can come from the products or services that a business owner offers,or from his or her firm's reputation.

• A) Brand
• B) Scale savings
• C) Learning
• D) Scope savings

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Definitions:

Market Outcome

The result of all buyers' and sellers' interactions in a market, determined by factors like price, quantity, and quality of goods and services.

External Costs

External costs, also known as negative externalities, are the costs experienced by third parties who are not involved in an economic transaction, often not reflected in market transactions.

Market Price

The market price at which you can currently buy or sell a service or asset.

Efficient Equilibrium

A state in an economy where every resource is optimally allocated to serve each individual or entity in the best way while minimizing waste and inefficiency.