Question

There are several ways corporations can dominate the market by offering the lowest prices to attract the most buyers. Which of the following is one of the ways your text mentions to do this?

1) Implementing cost-cutting measures to reduce production expenses
2) Increasing advertising budget to reach a larger audience
3) Expanding product line to offer more choices to customers
4) Collaborating with competitors to set industry-wide pricing standards

Answer 1

The correct option for corporations to dominate the market by offering the lowest prices is by implementing cost-cutting measures to reduce production expenses.

correct option is 1. Implementing cost-cutting measures to reduce production expenses.

Step-by-step explanation:

There are several ways corporations can dominate the market, but the option mentioned in the provided text that allows corporations to offer the lowest prices to attract the most buyers is Implementing cost-cutting measures to reduce production expenses.

This strategy directly impacts the costs associated with production, which in turn allows a business to offer lower prices to consumers while maintaining or increasing profit margins. A practical example of this can be seen in companies that reduce their costs by finding cheaper raw materials or improving the efficiency of their production processes.