Which of the Following Can Force a Business and Its

question 34

Multiple Choice

Which of the following can force a business and its competitors to compete on price alone?

• A) High product differentiation
• B) Poor process efficiency
• C) Demand control
• D) Transparent marketplace
• E) Multiple competing suppliers

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Definitions:

Novation

The act of replacing one party or obligation in a contract with another, requiring the agreement of all parties involved.

Assignment

The transfer of rights, property, or obligations from one party to another, a common practice in contracts and financial transactions.

Delegation

The process of assigning responsibility and authority to another person to carry out specific activities.

Substantial Performance

A legal concept indicating that a party has completed enough of its contractual obligations to warrant payment or another form of compensation, even if minor details remain unfulfilled.