For the theory of contestable markets to work, four conditions have to be met: no barriers to market entry, no economies of scale present, consumer willingness to switch between carriers, and
a. sellers and buyers of such small size that price or supply cannot be influenced.
b. existing carriers prevented from responding to new entrants' lower prices.
c. mutual interdependence between various sellers.
d. no one seller controls a significant portion of the market.
B
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Which of the following statements correctly describes the practices regarding customer privacy in the U.S.?
A. In the U.S., the opt-out policy is applied when consumers' personal information is collected and used. B. The U.S. has more stringent consumer privacy laws than the European Union. C. In the U.S., personal information is generally viewed as being in the public domain, and retailers can use it in any way they desire. D. Current legislation in the U.S. for consumer privacy forces strict protection of consumer privacy in retailing. E. In the U.S., Americans rely upon federal government to protect consumer privacy.
Rhonda is a server in a restaurant. One day she finds a purse while clearing a table. The purse is most likely A) lost property
B) mislaid property. C) community property. D) abandoned property.
Answer the following statement(s) true (T) or false (F)
The less precise levels of measurement contain all of the qualities of the scales above them.
Edward is a young entrepreneur with grand plans, including international expansion of his new company. Once that decision is made, Edward's next step is to
A. begin to hire employees with international experience. B. join a trade mission. C. plan a strategy that increases the potential of the firm. D. spend some time estimating the market potential of various countries.