What type of competitive structure exists when a firm produces a product that has no close substitutes?

A. Monopoly
B. Oligopoly
C. Monopolistic competition
D. Pure competition
E. Mixed competition


Answer: A

Business

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Under a perpetual inventory system, the sale of a manufactured product requires an entry

a. debiting Cost of Goods Sold and crediting Finished Goods. b. debiting Cost of Goods Sold and crediting Work in Process. c. debiting Finished Goods and crediting Work in Process. d. debiting Finished Goods and crediting Cost of Goods Sold.

Business

Joe was getting ready for his first performance evaluation at his new company. He had made a list of all the things that he felt he needed to improve upon as was the custom at his previous organization. He was surprised when he walked into his evaluation meeting to find his supervisor ready to discuss how he can develop himself for promotional opportunities. What element of the importance of human communication in business and professional contexts does this example illustrate?

a. Communicators are impacted by their previous communication experiences. b. Role-taking is critical to the success of business and professional communication. c. Feedback is critical to the success of business and professional communication. d. Physical surroundings influence communicators.

Business

The trait approach is concerned with ______.

A. leadership situations B. leadership skills C. follower attributes D. leader characteristics

Business

Which of the following methods of acquiring ownership is least used today?

A) purchase B) capture C) gift D) production

Business