All of the following are sources of dynamic gains from trade EXCEPT
a. specialization and the reallocation of existing resources.
b. additional savings and investment that occurs over a period of time.
c. economies of large-scale production.
d. economic stimulus provided by increasing levels of competition.
a. specialization and the reallocation of existing resources.
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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
Prepaid insurance is reported on the balance sheet as a
A) current asset B) fixed asset C) current liability D) long-term liability
Which of the following customer segments is typically targeted by marketers using a creaming
pricing approach? A) early adopters B) late majority C) early majority D) laggards
You should never review what you have already done
Indicate whether the statement is true or false