Wal-Mart created a competitive advantage with its inventory system to reduce the ratio of cost of goods sold to sales, expecting:
a. to enjoy huge economic profits forever.
b. that its rivals will never imitate their strategy and it will continue to enjoy positive economic profits.
c. that its rivals will immediately do the same thing and it will end up earning zero profits.
d. to enjoy economic profits for a few years before its rivals caught up.
e. that it will at least be able to cover its fixed costs.
d
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Marginal cost is the opportunity cost of producing
A) every unit possible. B) zero units. C) the first unit and only the first unit. D) one more unit of a good or service. E) None of the above answers is correct.
A market system is not considered an effective way of controlling self-interest
a. True b. False Indicate whether the statement is true or false
As of 2013, which was the only country in the world to be debt-free?
A. Japan B. Greece C. Korea D. Brunei
Monetarists believe the private economy is inherently:
A. unstable and the public sector should be small. B. unstable and the public sector should be large. C. stable but that the public sector should be large. D. stable and that the government sector should be small.