Which of these is a weakness (challenge) for a business following a Low Cost Strategy?

		It is difficult to appeal to price- sensitive customers
		It is difficult to raise prices if it becomes necessary (for example when raw material prices increase)
		It is difficult to compete against differentiators on price
		It is difficult to compete when there is an economic downturn (when customers become more cost conscious)

Product design is associated with all the following EXCEPT

		The (competitive) pricing of the product
		The ease of making/ manufacturing the product
		Appearance of the product
		The performance of the product (how well it works)

The financial ratio that indicates how quickly a business can come up with cash at short notice is the

		Quick Ratio (Current Assets Inventory/ Current Liabilities)
		Debt to Equity (Total Debt/ Stockhodlers' Equity)
		Current Ratio (Current Assets/ Current Liabilities)
		Inventory Turnover (Cost of Goods Sold/ Average Inventory for the Period)

Which of these is considered a "defensive" strategy?

		WO Shoring up (improving) a Weakness to take advantage of an Opportunity
		SO Using a Strength to take advantage of an Opportunity
		ST Using a Strength to minimize impact of a Threat
		WT Eliminating (improving) a Weakness to mitigate a Threat

The strength or weakness of the brand of a business would be considered a(n) ________ factor.

		Competitive
		Regulatory
		External
		Internal

How well a business can utilize its available resources to create value is referred to as

		Capabilities
		Uniqueness
		Competencies
		Weaknesses