Cost competitiveness means that one
A) sacrifices quality to keep costs low.
B) carefully monitors costs mainly during the setting up of business.
C) prices his or her products or services at a level attractive to consumers.
D) manages his or her costs by maintaining the status quo.
E) offers a high-quality product at a higher price.

Question

Quizplus · Accepted Answer

Cost competitiveness means pricing products or services at a level that is attractive to consumers while keeping costs low. It does not necessarily mean sacrificing quality or maintaining the status quo. Offering a high-quality product at a higher price would not be considered cost competitive. Carefully monitoring costs is important, but it is an ongoing practice rather than something done only during the setting up of the business.

Cost Competitiveness Means That One