For Penrose (1959), firms are superior to markets in terms of their _________.
a. Management
b. Innovation
c. Endogenous creation of knowledge, innovation and value
d. None of the above
c. Endogenous creation of knowledge, innovation and value
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________ means inviting the Internet community to help create content or software, often with prize money or a moment of glory involved
A) Stage-gating B) Cocreation C) Microstocking D) Buzzing E) Crowdsourcing
Adam offered to buy automobile batteries from Ben. Adam's purchase order was complete with respect to all material terms except price, which was omitted. If Ben accepts Adam's offer, and the price of automobile batteries is well established in the industry, which of the following statements is true?
A. A contract can be formed between Adam and Ben even though the price term was omitted. B. A contract can be formed between Adam and Ben only if it can be proved that the parties intended to enter a contract to discuss the price. C. A contract cannot be formed between Adam and Ben if the price is not included. D. A contract can be formed between Adam and Ben, but the price will be treated as a proposed addition to the contract which must be accepted by both parties.
A company that intends to maintain low-end pricing policies to make the market unattractive for its competitors is using which of the following pricing objectives in its price planning?
A) sales B) profit C) break-even D) competitive effect E) customer satisfaction
Since the adjustments are entered on the work sheet, it is not necessary to record them in the journal or post them to the ledger
Indicate whether the statement is true or false