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Questions and Answers
What is the main tradeoff between variety and regionalization, according to the text?
What is the main tradeoff between variety and regionalization, according to the text?
- People desire something different but not too different. (correct)
- People prefer uniformity over diversity.
- Regionalization always leads to a decrease in quality.
- Variety and regionalization are mutually exclusive concepts.
In economics, why is variety typically considered a good thing?
In economics, why is variety typically considered a good thing?
- Diverse product offerings provide consumers with different options and stimulate competitive innovation. (correct)
- Uniform product offerings are more appealing to consumers.
- It leads to a decrease in competitive innovation.
- Variety reduces consumer choice and satisfaction.
What contributes to the reputation of Swiss clocks, Chinese silk, Indian spices, and Italian clothing, according to the text?
What contributes to the reputation of Swiss clocks, Chinese silk, Indian spices, and Italian clothing, according to the text?
- They cater specifically to local markets.
- They have limited consumer demand.
- They are mass-produced for global markets.
- They offer better-quality products than are available domestically. (correct)
Which statement best reflects people's historical preferences, according to the text?
Which statement best reflects people's historical preferences, according to the text?
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Why do fast food restaurants in China cater more to local tastes and preferences?
Why do fast food restaurants in China cater more to local tastes and preferences?
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What is the key factor driving competitive innovation in diverse product offerings?
What is the key factor driving competitive innovation in diverse product offerings?
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