New configurations of value activities create coordination and control challenges that cannot be addressed by the functionality outlined in a formal structure

What is the economy experiencing when a society cannot produce all the goods and services people wish to have?

a. scarcity b. externalities c. market failure d. communism

Leupold & Stevens, Inc. makes Leupold scopes for rifles and has introduced a new scope that has the quality and performance for which Leupold & Stevens is famous at a price much lower than it has ever sold a rifle scope before. The new scope offers several different magnifications and is the only scope in the $200 range that is made in the United States. (All similar scopes are priced much higher.) Which pricing strategy is Leupold & Stevens using to appeal to a larger market?

a. status quo pricing b. penetration pricing c. cost sharing d. price skimming