Test Your Business Savvy

• When a company produces goods or services better than its competitors (correct)
• The ability of a company to distinguish its product or service from that of its competitors
• The advantage a company has when it operates in a less competitive market
• The ability of a company to produce goods or services at a lower cost than its competitors

• High asset utilization and low downtime (correct)
• Creativity and innovation
• Personalization and status-centric products
• Learning and brand equity

• Long-lasting, easy to copy, and something the company controls
• Short-term, easy to copy, and something the company doesn't control
• Short-term, easy to copy, and something the company doesn't control
• Long-lasting, hard to copy, and something the company controls (correct)

<p>Complexity and personalization (C)</p> Signup and view all the answers

<p>When a company produces at a high volume, it can achieve lower unit costs (A)</p> Signup and view all the answers

<p>Companies can design products that are easy to mechanize, automate, and scale up production, which reduces costs (B)</p> Signup and view all the answers

<p>Salt, municipal water, and petroleum (B)</p> Signup and view all the answers