When companies that manufacture shipping containers want to buy iron ore, the purchase decision is solely based on price. This is because there are a large number of sellers in the iron ore industry, and iron ore is a highly undifferentiated commodity. Which of the following industry competitive structures does the iron ore industry best illustrate?
A. monopoly
B. monopolistic competition
C. oligopoly
D. perfect competition
Answer: D
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The introduction of a proposal should
A) summarize the solution to a problem. B) explain the details of the solution. C) identify the method to be used to solve the problem. D) emphasize how the reader will benefit from the solution. E) indicate what the job will cost.
Legislation in some provinces has made changes to contract law for the benefit of the consumer. Which of the following is an example of a consumer protection law?
A) The provisions for electronic (i.e., by computer) acceptance of an offer. B) The banning of negative option marketing - i.e. the practice of making a consumer "opt out" of a contract. C) The enactment of a cooling off period, allowing a purchaser to back out of a contract if he changes his mind within a specific period of time D) Both B and C E) All of the above
Which of the following is not one of the speeds found in a modern Ethernet LAN?
A. 10 Mbps B. 100 Mbps C. 100 Gbps D. 10 Gbps
The average collection period is the number of days that a firm extends credit to its customers.
Answer the following statement true (T) or false (F)