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Stichworte: perfectly competitive firms
What term refers to the knowledge, skills, and abilities of a firms workers?
If firms are earning zero economic profits, they must be producing at an output level at which
Why would a competitive firm stay in business if it made zero economic profit
How can competitive profit be zero in the long run who will work for nothing?
Why would foreign firms export a product at less than its cost of production?
Which one of the following is not an appropriate reason why firms try to grow?
What is the importance of strategic leadership in business firms organization?
What type of strategies are concerned with the question how should we compete?
Includes initiative and risk taking, as well as competitive aggressiveness and boldness
The ratio of earnings to sales for a given time period is a firms profit margin.
Why is the statement of cash flows important in evaluating a firms performance?
What is the main difference between a firm’s immediate and external environments?
How is the elasticity of supply similar to the elasticity of demand How is it different?
Entry of new firms into monopolistically competitive industries is relatively easy because
What are the three aspects of human capital that enhance competitive advantage?
Which of the following is least likely to be a low-cost leadership competitive advantage?
In the above figure the monopolistically competitive firm makes an economic profit of
Demand is perfectly elastic when the value of the price elasticity of demand is
How might a given country’s regulatory environment impact a firm’s international strategy?
When firms see distribution partners as rivals this is known as channel conflict
Is a type of unsecured promissory note issued by large financially strong firms?
By increasing the perceived value of a firms products or services, a firm will be able to
If a firm operating in a competitive industry shuts down in the short run, it can avoid paying
A strategy in which firms collaborate to achieve a shared objective is known as:
What are the similarities and differences between an EFE matrix and an IFE Matrix?
Which of the following firms is most likely to identify avoiding risks as an objective?
Which of the following is likely to be present in a perfectly competitive market?
How does a sustainable competitive advantage differ from a competitive advantage?
A major advantage of using games for learning is to create a highly competitive environment
A ____ business sells directly to consumers products manufactured by other firms.
Which of the following is a characteristic of a firm in a perfectly competitive market?
Giving students a choice of playing a competitive game or a cooperative game is an example of
The above figure illustrates a perfectly competitive firm. curve c represents the
A ___________________ merger joins two firms operating in different stages of business.
Unlike a monopolistic firms product, a monopolistically competitive firms product
Control systems help monitor which of the following building blocks of competitive advantage?
What is the difference between a low cost strategy and a differentiation strategy?
Which of the following are characteristics of a monopolistic competitive industry?
Which of the following is true about a perfectly competitive firm in the long run?
Why is a weighted competitive strength analysis superior to an unweighted analysis?
Which of the following is an advantage that small firms have over large businesses?
Which of the following business tools focus on a firms external threats and opportunities?
What is true of price in a long run equilibrium in a perfectly competitive industry?
The firms overemphasis on cost reduction and short-term profits will increase the size of the
Why is a competitive firms marginal cost curve regarded as its supply curve quizlet?
Which of the following statements is true of perfectly competitive firms in long run equilibrium?
The supreme court ruling in bechtel v competitive technologies inc. upheld which federal law?
To maximize its profit in the short run, a perfectly competitive firm decides Quizlet
Assume a constant-cost industry that is initially in long-run competitive equilibrium
How can you develop strategies to be competitive in the industrial world of business?
Which of the following is characteristic of a purely competitive sellers demand curve?
What will be true when a perfectly competitive market reaches a long run equilibrium?
What strategy involves seeking ownership of or increased control over a firms competitors?
Which of the following is most likely to be observed in a monopolistically competitive market Mcq?
Which of the following is not a characteristic of a sustainable competitive advantage?
The two biggest factors that distinguish one competitive strategy from another concern
What type of competitive advantage does a best cost provider strategy aim at achieving what does a company have to do to achieve this advantage?
Why is it misleading to compare a companys financial ratios with those of other firms that operate within the same industry?
Aggregate planning for service firms with high-volume tangible output is directed toward
Different management ideologies affect the development of national competitive advantage
All of the following are strategies market leaders can utilize to remain competitive EXCEPT
Middle managers make long range strategic decisions about the firms products and services
How does value innovation achieve sustained competitive advantage for the innovating company
Is a major competitive dimension that forms a companys strategic operational competitive position in their strategic planning?
What effect does bringing together the skills and knowledge of members from different parts of the organization have on a firms responsiveness to customers?
What involves actually distinguishing the firms market offering to create superior customer value?
Which of the following is the best way to build a sustainable competitive advantage quizlet?
Which brand strategy is recommended for a firm with rapid market growth and a strong competitive position?
Which strategy is effective when you but related products could be offered at highly competitive prices?
Which of the following growth strategies employs the existing marketing mix and focuses the firms efforts on existing customers?
The tendency of firms to extend sales ownership and manufacturing to new markets abroad is
Normally, the more involved a board of directors is in shaping the firms strategic direction, the:
Which one of the following is not one of the ways for a diversified company to build competitive
Checking a diversified companys business portfolio for the competitive advantage potential of cross
What is it called when one country can produce more output of a good than another country?
To support the other promotional efforts, firms use ________ to generate free media attention.
If the goal is to maximize profit, at which point on the graph would a firm’s output be optimized?
In the short run, a monopolistically competitive firm chooses the quantity to produce where
Eco Energy is a monopolistically competitive producer of a sports beverage called Power On
Which of the following is not an example of a firm’s efforts toward greater sustainability?
The best way to understand a firms financial health and stability is to look at its ______.
Which financial statement shows a firms bottom line its profit or loss after costs expenses and taxes for a specific period?
To evaluate the effectiveness or performance of a marketing strategy, firms most effectively use
Which of the following is true for both monopoly and a perfectly competitive firm quizlet?
Firms that buy products from manufacturers and ultimately resell them to retailers are called:
Are short term incentives which are used by firms to encourage the buyers to make immediate purchase of their products?
Are tangible resources linked more closely to the creation of competitive advantages than are intangible resources or is the reverse true?
A producer of commodity steel should pursue which of the following generic competitive strategies?
Which framework helps firms identify their economic legal ethical and philanthropic obligations to society quizlet?
Which of the following is a difference between entrepreneurially managed firms and traditionally managed firms?
In the short run, which of the following is true of a firms average total cost of production
The trend away from personal salespeople to self-service in many retail outlets has caused firms to:
Which of the following is not a component of internal analysis leading to competitive advantage
A competitive strategy which is based on selling existing products to existing markets is called
For a perfectly symmetrical distribution with a median of 30, what is the value of the mean?
Which of the following should an organization do in order to obtain a competitive advantage
Refer to the diagram for a monopolistically competitive producer. this firm is experiencing
In the long run, a monopolistically competitive firm produces the output at which price equals
Which of the following is a difference between a monopolistically competitive firm and a firm in a competitive market in the long
What are some of the differences between a monopolistically competitive firm and a competitive firm quizlet?
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