If large sectors of American industry are not very competitive, then the _______________ does not work as well as it could if American industry operated under a more perfectly competitive system.
Fill in the blank(s) with the appropriate word(s).
price mechanism, or "invisible hand"
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Which of the following is a feature of an M-Form organization?
a. divisions can respond more easily to changes in customer demand b. it is difficult to maintain customer relationships c. coordination across divisions is simple and does not take much management time d. evaluating employees is easier because managers typically are similarly trained
In economics, choosing one activity means:
A. choosing not to take advantage of another opportunity. B. people always act rationally. C. people signal they only like that activity. D. that activity must be observable to be studied.
Oligopolist A cuts price in an attempt to enlarge his share of the market. His competitors fail to retaliate with price cuts. In this case, in Figure 13-3, oligopolist A will move from point A to which point?
A. B B. C C. D D. E
A decrease in supply is shown graphically by a shift of the supply curve to the ________.
Fill in the blank(s) with the appropriate word(s).