Which of the following is an example of a factor that a firm's owners and managers can control in making the firm successful?
A)The ability to produce the product at a lower cost
B)Changing consumer tastes
C)A rise in the price of a key input, for example, a rise in the price of oil leads to higher energy costs
D)The number of competitors in the market

Question

Quizplus · Accepted Answer

The ability to produce the product at a lower cost is an example of a factor that a firm's owners and managers can control through various means such as improving production processes, reducing waste, negotiating better supplier contracts, etc.

Which of the Following Is an Example of a Factor