What is the difference between consumer goods and consumer services? Give an example of each
What will be an ideal response?
Consumer goods are the tangible products that individual consumers purchase for personal or family use. Consumer services are intangible products that consumers pay for and use but never own. Examples will vary, but should reflect these definitions.
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Labor unions and shareholders are internal stakeholders or publics
Indicate whether the statement is true or false
Under the completed contract method
a. revenue and cost are recognized during the production cycle, but gross profit recognition is deferred until the contract is completed. b. revenue, cost, and gross profit are recognized during the production cycle. c. revenue, cost, and gross profit are recognized at the time the contract is completed. d. none of these
Identify a true statement about oligopoly.
a. It is a market structure that has many competitors selling virtually identical products. b. Firms in an oligopoly market structure typically avoid price competition. c. Agriculture exemplifies an oligopoly market structure. d. It has a single producer completely dominating the industry, leaving no room for competitors.
According to the Voices of OB in the textbook, the one phrase that Andrew Loos utters most is ____________ and it means that he wants his employees to be mixing together so his VP and Directors are working closely with people from across the company.
a. Attack! b. Goal digger c. Spread the floor d. Growth hacking