If a company believes the business sector is saturated with competitors, which of the following should it consider?
a. Product differentiation
b. A buy-out or acquisition of some of the competition
c. Create a price war with the competition
d. Relocation of the business
Answer: a. Product differentiation
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Funds held in bank accounts that can be withdrawn by depositors at any time without advance notice are called:
A. demand deposits. B. required reserves. C. free funds. D. flow funds.
Suppose an economy of five people has a national income of $100,000 . and each individual earns $20,000 . The Gini coefficient for this economy is
a. one b. zero c. between 1.0 and 0.5 d. between 0 and 0.5 e. not enough information is given
Consider the production possibilities frontier displayed in the figure shown. A society faced with this curve could choose to produce:
A. B, C, or D. B. A, B, or C. C. A, D, or C. D. A, B, or D.
The market demand curve for a public good:
A. shows the total number of units that would be produced by the private sector at each possible price. B. is derived in the same manner as demand curves for private goods. C. shows the total value that all individuals place on each unit of the good. D. is derived by horizontally summing all individual demand curves.