A Competitive Profile Matrix

question 59

Multiple Choice

A competitive profile matrix:

• A) identifies a firm's core competencies.
• B) permits the small business owner to divide a mass market into smaller, more manageable segments.
• C) allows the small business owner to evaluate her firm against competitors on the key success factors for the industry.
• D) creates a road map of action for the entrepreneur in order to fulfill her company's mission, goals, and objectives.

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Definitions:

Passive Approach

A Passive Approach refers to a strategy where minimal intervention or action is taken, often relating to investment or policy decisions.

Expansionary Gap

A situation in which the actual output in an economy exceeds the output it would produce at full employment, leading to inflationary pressures.

Potential Output

The maximum level of output an economy can achieve when utilizing its resources fully without causing inflation.

SRAS Curve

The Short-Run Aggregate Supply curve, which shows the relationship between the price levels in an economy and the quantity of goods and services that producers are willing to supply in the short term.