An Opportunity That Makes It Possible for a New Business

question 31

Multiple Choice

An opportunity that makes it possible for a new business to gain a foothold in a market is referred to as a(n) _____.

• A) parallel competition
• B) incremental innovation
• C) differentiation strategy
• D) entry wedge

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Definitions:

Phillips Curve

An economic theory suggesting an inverse relationship between the rate of unemployment and the rate of inflation in an economy.

Inflation

A continuous rise in the overall price level of goods and services within an economy over a period.

Unemployment

The condition in which a capable worker who is actively seeking employment is unable to find work.

Money Supply

The total amount of monetary assets available in an economy at a specific time, including cash, coins, and balances held in bank accounts.