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</p> Signup and view all the answers

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

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