You have recently started a small business. Your primary competition is much larger and can benefit from economies of scale that keep its costs (and prices) significantly lower than yours. To be competitive, it is important for you to
a. clearly differentiate your product or services.
b. grow so that you can reduce your costs to match those of the competition.
c. keep your workforce wages low to reduce your current costs.
d. There is not enough information to provide an answer.
Ans: A
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A number of countries have joined together in Europe, Asia, Africa, and Latin America to coordinate their regional economies. Which of the following has NOT been an objective of such cooperation?
a. Creation of "regional" legislatures with actual powers. b. Lowering of tariffs or removing other trade barriers. c. Providing adequate and effective enforcement of intellectual property rights. d. Establishing an economic and monetary union.
Jackson Advertising Co. had assets of $475,000; liabilities of $275,500; and equity of $199,500. Calculate its debt ratio.
What will be an ideal response?
In a manufacturing business, which of the following transforms finished goods into cash?
A) warehouse operations B) manufacturing process C) sales process D) outbound logistics