This question contains two parts; be sure to answer both. First, what is punctuated equilibrium? Second, explain how the development of car-sharing services in major urban areas, such as ZipCar, punctuated the equilibrium for well-established car-rental companies like Hertz and Avis. (With ZipCar, people pay a monthly fee to join the service; they can then reserve cars by the hour or by the day, and pick them up in convenient locations. The process is much easier, with much less hassle, than going through a traditional car-rental company.)
What will be an ideal response?
When a group follows punctuated equilibrium, it establishes periods of stable functioning until an event causes a dramatic change in norms, roles, and/or objectives. The group then establishes and maintains new norms of functioning, returning to equilibrium (see Figure 13.2). Hertz, Avis, and the other major car-rental companies were very content with their business model until ZipCar came along and started eating away at their market share. As a result, the traditional companies began offering car-sharing services of their own, such as Enterprise Car Share and Hertz 24/7. Now that Hertz and Enterprise are again competitive, they have settled back into a new equilibrium.
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A. lower than its minimum position. B. equal to the buyer's minimum position. C. higher than its target position. D. equal to its target position. E. lower than its target position.
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A) financial B) cyberbait C) convenience D) value-added
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Indicate whether the statement is true or false
______ employment agencies are privately owned and charge a fee for their services.
A. Public B. Private C. Institutional D. Internal