Until 1996,U

question 23

Multiple Choice

Until 1996,U.S.carmakers sent very few right-hand-drive cars to Japan while German car makers exported several models with the steering wheel on the right to accommodate the way the Japanese drive their cars on the left side of the road.American car manufacturers could blame their failure to a great degree on

• A)an insignificant point of difference.
• B)too little market attractiveness.
• C)not satisfying customer needs on critical factors.
• D)poor product quality.
• E)incomplete market and product protocol.

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Definitions:

Input Prices

The costs associated with the factors of production used in the creation of goods or services, such as raw materials and labor.

Marginal Product

The additional output produced when one additional unit of a resource is employed.

Minimizing Costs

Minimizing costs involves finding the most efficient way to operate that lowers expenses without sacrificing the quality or quantity of output.

Rental Rate

The price paid for the temporary use of a good, service, or property, typically expressed as a fee per time period.