A quota is
a. a tax on exported items.
b. a tax on imported items.
c. a limit on the amount of imports.
d. a subsidy to export.
c
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Which of the following are types of economic markets? I. perfectly competitive II. oligopoly III. monopoly IV. multilateral
A) I and II B) II and III C) I and IV D) I, II and III
The term "creative destruction" refers to
A) the process by which immigrants build a new life in their country of destination. B) the process by which new jobs are created and old ones destroyed. C) the effects of population growth on the environment. D) All of the above are correct.
The features of the M-Form of firm organization are
a. divisions have difficulty responding to market changes b. it is difficult to maintain customer relationships c. coordination across divisions is simple and does not take much management time d. employee evaluation is hampered by managers often having different skill sets than those the manage
Mark and John are 10-year-old twins who do not get along. They have opened separate lemonade stands and are competing with each other, selling lemonade on their block. Their mother observes that Mark is very good at making lemonade and John is an
excellent young salesman. She suggests they both could make more money if they worked together. John counters that two stands will always make more money than one. Who is right? Why?