Which of the following is NOT true about intermediaries?
A. They play an important role in the exchange process.
B. They always increase total expenses for a product.
C. They specialize in trade rather than production.
D. They save time for other participants in a transaction.
Answer: B
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Los Amigos, a new Mexican restaurant, has set up shop across the street from Hot Tamales and More. Which of the following pricing strategies will Los Amigos likely use?
A) cost-plus B) competition-based C) break-even D) good-value E) target costing
Rather than electing or appointing a group member to a leadership position, group members choose to eliminate from consideration those members who do not demonstrate leadership behaviors. This is referred to as the ______ approach to leadership.
a. emergent leader b. counteractive influence c. process of elimination d. evolving leader
Which type of service is generally leased?
a. rented-goods service b. owned-goods service c. nongoods service d. regulated-goods service
The most effective strategy for moving from a competitive to a cooperative situation requires members:
a. Always acting cooperatively b. Always acting competitively c. Start by acting cooperatively then respond in kind to the other person’s move d. Acting cooperatively only if rewarded to do so