Which term refers to the pattern of short-term ups and downs in an economy?
A) Aggregate output
B) Business cycle
C) Standard of living
D) Balance of payments
E) Demand and supply schedule
Answer: B
Explanation: B) The business cycle is the short-term pattern of economic expansions and contractions.
Business
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Which of the following methods for new-product development incorporates buyers' preferences in the final design of the product?
A) quality function deployment B) market leadership C) cost leadership D) incremental innovation E) disruptive technology
Business
Which of the following types of retailers obtain surplus merchandise from manufacturers and offer brand-name, fashion-oriented goods at low prices?
A) specialty stores B) warehouse clubs C) off-price retailers D) department stores E) hypermarkets
Business