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Questions and Answers
What is the term for the act of introducing a new product to the market?
What is the term for the act of introducing a new product to the market?
- Strategic decision
- Strategic acquisition
- Resource allocation
- Launch a new product (correct)
Which term describes the process of entering into a business partnership with another company?
Which term describes the process of entering into a business partnership with another company?
- Strategic partnership (correct)
- Defend a market
- Dominate a market
- Establish a foothold in a market
What is the term for the act of closing down a business operation?
What is the term for the act of closing down a business operation?
- Put it in a bid
- Win a contract
- Carry out a market research
- Cease trading (correct)
Which term refers to the aggressive and intense competition among businesses in an industry?
Which term refers to the aggressive and intense competition among businesses in an industry?
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What is the term used for the financial result when expenses exceed revenue in a business?
What is the term used for the financial result when expenses exceed revenue in a business?
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Which term describes the act of making an official offer for a project or contract?
Which term describes the act of making an official offer for a project or contract?
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Study Notes
Business Terminology
- Launching: The act of introducing a new product to the market.
Partnerships and Collaborations
- Joint Venture: The process of entering into a business partnership with another company.
Business Operations
- Liquidation: The act of closing down a business operation.
Market Competition
- Cutthroat Competition: The aggressive and intense competition among businesses in an industry.
Financial Performance
- Loss: The financial result when expenses exceed revenue in a business.
Business Proposals
- Bid: The act of making an official offer for a project or contract.
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