Content Grades Assessments Communication Resources \"7 Folio Help Exam #2-Quiz T

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Content Grades Assessments Communication Resources "7 Folio Help Exam #2-Quiz Time Left: 2:50:06 Grant Pagan: Attempt 1 Previous Page Next Page Note: It is recommended that you save your response as you complete each question. Page 10 of 30 Question 10 (3.33 points) The construction industry is Price Competitive, this means that: O A) Small increases in price, will result in losing large quantities of work B) Construction companies compete only on price c) Price is significantly more important than cost in achieving profit goals 0 D) None of the above Save Previous Page Next Page Page 10 of 30 Save All Responses Go to Submit Quiz 3

Explanation / Answer

Correct answer is (A)

Price competitive industry is that where all the companies produces similiar product and fix the prices of the basis of prices fixed by other companies existing in the industry. Since the prices are fixed on the competitive basis and the end product of all the companies is same, the sales volume is very sensitive to change in the prices.

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