The situation in which competitors offer very similar marketing mixes that customers see as close substitutes, and managers just compete with lower and lower prices as profit margins shrink, is called
A. collectivist competition.
B. pure competition.
C. monopoly.
D. capitalistic competition.
E. monopolistic competition.
Answer: B
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If your supervisors pat you on the back from time to time, they are entering your ____ zone
A) personal B) intimate C) public D) social E) ethnic
A spouse who is named the beneficiary of a life insurance policy would ordinarily be:
a. a creditor beneficiary. b. an incidental beneficiary. c. a donee beneficiary. d. a debtor beneficiary.
An offeror must objectively intend to be bound by the offer
Indicate whether the statement is true or false
Arnold enters a Bunco tournament hosted by Bunco Players Association (BPA). During the event, Arnold signs an agreement that stipulates BPA will pay all of the winner's fees and expenses to attend the Bunco World Games, but if the winner does not attend, he or she agrees to repay the funds. Arnold wins and BPA pays his expenses, but hedoes not go to the World Games. In BPA's suit to recover the
expended funds, a court is most likely to rule that the agreement is a. an invalid modification of the tournament contract between Arnold and BPA. b. bindingto the extent that the parties "split the difference.". c. not binding because it was signed "during the event.". d. binding and Arnold must repay the funds.