Answer: E. The firm's ability to differentiate its product
Explanation:
The factor under the control of owners and managers that make a firm successful and allow it to earn economic profits is the firm's ability to differentiate its product.
Product Differentiation has to do with making a product unique from that of its rivals so that it'll be attractive to the customers and the target market. This will slow be vital for the company to produce at a average cost that is lower than that of its competing firms. This will help the company to have a competitive edge over others.
Answer:
business partner
Explanation:
Business partner -
It refers to the authority in the business , which has the right to take decisions for the project of the business , is referred to as business partner .
The relation between the two or more people i.e. , the business partners can be on the contract basis or exclusive in nature .
Hence , from the given scenario of the question ,
Tyler need a buisness partner for his business .
Answer:
Number 4 is correct. <u>Mass customization.</u>
Explanation:
In this question, the most appropriate alternative is mass customization.
It can be defined as a process where companies produce goods and services for an expanded market, but that such products are modified and personalized to meet the needs and desires of a potential customer.
Mass customization allows the company to produce customized products with the advantage of productive flexibility and low unit costs that come from the mass manufacturing process.
This is a marketing strategy that is used to generate value for the consumer, since the company is able to offer a product with greater added benefits and at the same time maintain low manufacturing costs, which creates value and increases consumer satisfaction.
Answer: Life cycle assessment
Explanation: Life cycle assessment is the systematic analysis of environmental impacts of products from design stage through end-of-life, raw materials and energy inputs to its disposal with the ultimate goal to reduce environmental impact. It is concerned with every stage of the life-cycle (from raw material extraction, processing of raw materials, production, distribution, usage and disposal) of a product, process, or service.
