A natural monopoly can Study guides, Class notes & Summaries

Define and Understand Business correct answers An organization that provides goods, services, ideas and/or experiences in an effort to accomplish their organizational mission Strategic Business Planning Includes correct answers Operations, Finance, Marketing, And Human Resources Profits correct answers Difference between a business's revenue and expenses Profit = Income - Expenses For perfect or pure competition to exist, two conditions must prevail: correct answers 1. All firms in an ...

ETS Major Field Test (Practice Test): Bachelor's Degree in Business. The common characteristic possessed by all assets is a) Long life b) Great monetary value c) Tangible nature d) Future economic benefit Which Foreign Direct Investment (FDI) attempts to acquire particular resources at a lower real cost than could be obtained in the home country? a) Market-seeking FDI b) Efficiency-seeking FDI c) Resource-seeking FDI d) Strategic asset-seeking FDI Under the Uniform Comm...

characteristics of monopolistic competition include all of the following except correct answers identical products As the manager of a waterpark, you want to increase the number of tickets sold by 6%. Your staff economist has determined that the price elasticity of demand for waterpark tickets is 2. To increase sales by the desired amount, you should decrease price by correct answers 3% A production possibilities frontier shows correct answers all of the possible combinations of goods & se...

mercenaries - ️️are satisfied customers, but they switch between brands. They are usually price sensitive, looking for bargains and best offers, buying on impulse, pursuing fashion trends. They don't feel any attachment to particular brands. They usually expensive to acquire and difficult to keep. virtuous cycle - ️️economy expands, unemployment is low, incomes rise, consumers buy more products, businesses increase production defectors - ️️are probably the biggest nuisance to ...

An example of white-collar crime includes: - Money laundering activities The organisation WHISPER works for the decriminalisation of prostitution and can be categorised as: - Radicalist Feminists From a criminological perspective, Siegel (2004) defines a public order crime as a: - Crime which involves acts that interfere with the operations of society and the ability of people to function efficiently The theoretical explanation of conservation crime employs a combin...

Factors of production correct answers Labour, capital, entrepreneurs, natural resources & information Command economy correct answers Relies on centralized get to control all or most factors of production Market economy correct answers Individuals- producers and consumers- make decisions about production and allocation through supply and demand Two most basic types of command economies correct answers Communism & socialism Input market correct answers Firms buy resources from househo...

ECON 101 Final Exam 2024 Questions and Answers Solved 100%;AMU Attempt 1 of 1 Written Apr 26, 2024 11:26 AM - Apr 26, 2024 11:37 AM Attempt Score 100 / 100 - 100 % Overall Grade (Highest Attempt) 100 / 100 - 100 % Question 1 6 / 6 points The representative firm in a purely competitive industry: Will always earn a profit in the short run May earn either an economic profit or a loss in the long run Will always earn an economic profit in the long run Will earn ...

WatchTime Canada - correct answer - YouTube connects creators and consumers - YT is the first media space where Canadians go to learn - YT's benefits are provided at no cost to the system - YT has facilitates the rise of 160000 Canadian creators/creative entrepreneurs - diversity of creators and perspectives Game of Thrones - correct answer - piracy is better than an emmy? - first episode of s7 was pirated 91.4 times and the season had more than a billion illegal downloads wit...

Sole Proprietorship - ️️Most common and simplest. Owned and managed by one person. Can have full or part time employees. Often home based. Own all assets and profits (or losses)/ assume complete responsibility for business liabilities and debts. Single taxation (file earnings or losses on personal tax return). Comprise over 70% of all the nation's businesses. Weaknesses - ️️core competencies and company capabilities that are inferior to the competition. Firms should strive to impr...

True or False: The government intervenes to thwart anticompetitive behaviors throughout the marketplace. - True True or False: A natural monopoly exists where a single large firm, such as utility, is more efficient than several small ones. - True True or False: When all the costs and benefits of a good or service are fully internalized or absorbed by producers or consumers, those costs or benefits fall elsewhere as externalities. - False True or False: Negative Externalities are those i...