An error of omission occurs when an entrepreneur:
A. enters a market but overestimates the customer demand.
B. decides not to enter a market that is, in fact, desirable.
C. fails to understand the limitations of a market.
D. develops a product for a market that is too narrow.
Answer: B
You might also like to view...
Which of the following is the best example of price segmentation of a market?
A) Nokia offering a range of mobile phones differing in cost and functionality B) Playstation offering its gaming console at bargain prices on Black Friday C) Iberia Air offering ticket discounts to frequent flyers D) AT&T offering Sidekick mobile phones on its network at discounted rates
Quantitative job analysis is a systematic process that focuses exclusively on collecting information about an individual's mathematical skills.
Answer the following statement true (T) or false (F)
In which of the following situations will the implied warranty of merchantability arise?
a. Morgan sold his DVD player to a friend. b. Josh sold his car for $1,000 to a co-worker. c. Seconds, Inc. bought used furniture from Pamela's yard sale. d. Yolanda purchased a curling iron from Value Plus Discount Store.
In the global environment of business, the law of a particular nation, such as Germany, Japan, or the United States, is classified as A) environmental law
B) global law. C) international law. D) national law.