App econ ( Exam )

Predatory competition

This is a competition where large companies have been known to buy out smaller competitors:

Alliances

Competitive advantages can also be gained by businesses that seek

Performance competition

A kind of competition where many companies are aware of their competition but are mainly concerned in their immediate business, getting customers and satisfying those customers

Differentiation

A strategy that businesses often use to set themselves apart from competitors

Pareto analysis

This is a technique used when a large number of decisions need to be made

Decision matrix

It is used to evaluate all the options of a decision

It is the desire of people to posses or make use of your product or service

Innovating

It is improving on someone else’s idea to make it work for you

Recognition

These are high priority incentives and support programs of government for people who will engage in priority business operation, which is not

Technology

These might be useful in upgrading or improving traditional production systems or starting a new business altogether:

Industry information

Reading technical and business journals will keep you updated on business ideas

Opportunities

These are the elements that the business or project could exploit to its advantage

Cost leadership

An advantage that occurs when a business is able to offer the same quality product as its competitors, but at a lower price:

Differentiation

The advantage gained by this type of strategy is that it allows the business to further distance itself from its competition by, in some sense, maintaining a competitive advantage it has gained

Create utility and usefulness with your product

The first marketing technique you can use to beat your competition

International trade

is the exchange of capital, goods, and services across international borders or territories, which could involve the activities of the government and individual

retail

The process of selling consumer goods or services to customers through multiple channels of distribution to earn a profit:

manufacturing

The process of converting raw materials, components, or parts into finished goods that meet a customer’s expectations or specifications

Agriculture

Agribusiness is a business that earns most or al of its revenues from

Gross Domestic Product

GDP means

none of the above

The following are determinants of spending, which is not?

Spending and saving are mutually exclusive, which means that if income is fixed, any change in household’s savings will inversely affect

Changes in tax rates can clearly affect disposable, post-tax income

consumer

Businesses are reliant on

Consumers

. A successful business influences the behavior of

Spending

A rise in interest rates will stimulate

Supplier

Distributor of goods and services

no income

The unemployed spend less because of

More income

Rise in spending means