Identify a characteristic of a market economy.
A. Private enterprises reserve the right to own property.
B. The state reserves the right to monitor the production and distribution of goods and services.
C. Monopolies boost economic growth.
D. Competition is discouraged because it hinders penetration into niche markets.
Answer: A
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George, a chef and owner of L'Auberge, a popular restaurant, is always visiting his competitors to observe how they are doing things in their restaurants. He told one of his managers, "I eat dinner at a lot of restaurants because I want to know what is going on. I am always concerned that one of our competitors will surprise us with a new service or menu item, like ours but better." In which activity is George engaging?
A. competitive intelligence B. environmental scanning C. TQM D. corporate spying E. management by observation
A check drawn on a bank is an order to pay a sum of money and an authorization to charge the amount to the drawer's account. The drawer may countermand this order by which of the following?
a. A canceled check. b. A stop payment order. c. A banker's acceptance. d. A time draft.
Which of the following federal acts does not permit initial private citizen suits?
A) Resource Conservation and Recovery Act B) Clean Air Act C) Clean Water Act D) All of the above permit private suits.
Under a nonnegotiable bill of lading, a carrier who accepts goods for shipment must deliver the goods to:
a. Any holder of the bill of lading. b. Any party subsequently named by the seller. c. The seller who was issued the bill of lading. d. The consignee of the bill of lading.