Independent firms that together can exploit economies of scale are referred to as a
A) T-form of organization.
B) M-form of organization.
C) network.
D) weak alliance (the matrix).
C
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"Demand deposits" in commercial banks are
A) assets of both the non-bank public and the banks. B) assets of the depositors and liabilities of the banks. C) liabilities of the non-bank public and of the banks. D) liabilities of the non-bank public and assets of the banks.
Installing software to limit screen time, forcing you to uninstall it every time you reach the limit, is an example of:
A. increasing the cost of a vice. B. a commitment device. C. can be explained through behavioral economics. D. All of these are true.
The superstar effect is that
A) the supply of superstars is more elastic than that for average players. B) the labor market cannot create equilibrium wages for the best players. C) the demand for a few players is relatively greater than the demand for most other players. D) none of these choices.
Economic models are used primarily to
a. predict behavior under specific circumstances b. make an exact reproduction of one facet of the economy c. increase the mathematical complexity and rigor of economics d. provide simple answers to simple questions e. give accurate forecasts of the future