When a Good Commodity Is Driven Out of the Market

question 45

Multiple Choice

When a good commodity is driven out of the market by a bad commodity it is called:

• A)moral hazard.
• B)adverse selection.
• C)positive externality.
• D)negative externality.
• E)tragedy of commons.

Identify the primary functions and concerns of managers within an organization.

Grasp the significance of strategic, tactical, and operational planning in achieving organizational objectives.

Understand the role and importance of forecasting in planning and the management function.

Learn about the critical skills required for effective management and leadership.

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Definitions:

Brand Extension

The use of the same brand name for new products being introduced to the same or new markets.

Teeth-whitening

A cosmetic dental procedure aimed at making teeth appear whiter and brighter.

Individual Brands

The use of individual brand names for each of a firm’s products.

Corporate Brands

Identities created for corporations as a whole, incorporating their values, culture, and reputation.