A set of actions that a firm takes to achieve a goal, such as maximizing profits, is called
A) a business strategy.
B) a payoff matrix.
C) the Porter's Competitive Forces plan.
D) game theory.
Answer: A
You might also like to view...
Explain the concept of purchasing power parity
What will be an ideal response?
What should a profit maximizing monopolist do if she is currently producing where MC < MR?
a. Increase output until MC = MR. b. Decrease output until MC = MR. c. Shut down in the long run. d. Keep producing at this level. e. Operate only in the short run.
Both Keynesians and non-Keynesians now recognize
a. the limitations of automatic stabilizers as a stabilization tool. b. the adverse effects of high marginal tax rates on economic growth. c. the difficulties involved in timing discretionary changes in fiscal policy in a stabilizing manner. d. the highly expansionary impact of budget deficits.
“Bad theories are abstract and therefore unrealistic; good theories are fully realistic and fit all the facts.” Evaluate
Please provide the best answer for the statement.