There are only three major recording labels in the world - Sony Music Entertainment, Time-Warner's Warner Music Group, and GE's Universal Music Group. They are responsible for the vast majority of music recordings that are made. Harry says that these three music companies operate as an oligopoly. Maryanne says that they operate as monopolistic competition. Explain how each came to his or her conclusion. Who is correct?
What will be an ideal response?
Monopolistic competition occurs when many sellers compete with similar products. Oligopoly occurs when just a few companies control the majority of industry sales. Since these three recording labels produce the vast majority of music recordings and each recording is substantially different (people are fans of particular artists), Harry is correct.
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In evaluating internal control, the auditor is basically concerned that the system provides reasonable assurance that:
A. management cannot override the system. B. material misstatements have been prevented, or detected and corrected. C. controls have not been circumvented by collusion. D. operational efficiency has been achieved in accordance with management plans.
Discuss the relationship between cross-tabulation and frequency distribution
What will be an ideal response?
The proportion of world trade accounted for by Asia has ____ since 1980.
A. seen an overall decline B. increased by 20 percent C. increased fivefold D. almost doubled E. tripled
Consumer's expectations of doing new things with varied kinds of information in ways that create value have resulted in the emergence of__________
Fill in the blanks with correct word.