Competition in the Marketplace
Authored by Glenn Lovegrove
Business
7th - 10th Grade
Used 57+ times
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18 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A business that can produce and/or sell their services better than their competitors is said to have
an absolute advantage
a price advantage
a competitive advantage
a competitive edge
2.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Which three of the following are areas a business can lead in to be competitive in their market?
Price
Speed of delivery
Quality
Quantity
Warranty
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
There are a number of strategies a business can implement in an attempt to gain a competitive advantage. One strategy is to make the product __________than its competitors.
stand out more
more expensive
the same
have more defects
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Investing funds in products to create new products or improve existing products.
Research and Development
Differentiation
Operations management
Lowering costs
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The use of robotics in manufacturing is an example of…
strategic planning
process innovation
product innovation
blended marketing
6.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Which of the following is not a type of cost incurred by a business?
Wages
Advertising
Net Profit
Sales revenue
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
R&D is an abbreviation for...
Research and Development
Rewards and Dividends
Recruitment and Delivery
Research and Differentiation
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