Which of the following is a reason behind Wal-Mart's success?
a. Absence of unionization and encouragement of merit-based promotions.
b. Complete control over the market price.
c. Presence of regional managers in the field rather than at headquarters.
d. Centralized control and inspection over the functioning of store managers.
A
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Only a firm with ________ will be able to make their output profitably.
A. the highest opportunity cost of production B. low variable costs C. a comparative advantage at producing their output D. an absolute advantage at producing their output
Two-period panel data is used for program evaluation and policy analysis.
Answer the following statement true (T) or false (F)
Scarcity is
A. a situation in which the resources required to produce the goods and services that people desire are insufficient to satisfy all wants. B. a shortage of goods and services. C. poverty and misery. D. a situation in which the resources for producing the goods and services that people desire are sufficient to satisfy people's desires.
The capture theory of regulation predicts that regulations bring ________ to producers and impose ________ on any individual consumer
A) small benefits; small costs B) small benefits; large costs C) large benefits; small costs D) large benefits; large costs E) large benefits; no costs