Overlapping Memberships of the World's Top Multinational Companies Enfold Their

question 31

Multiple Choice

Overlapping memberships of the world's top multinational companies enfold their leaders into a small circle called a(n) ________.

• A) global superclass
• B) global village
• C) international monopoly
• D) multinational corporation

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Definitions:

Pure Competition

A market structure characterized by a large number of small firms, a homogeneous product, and very easy entry and exit from the market.

Imperfect Competition

Market structures that do not meet the conditions of perfect competition, including monopolistic competition, oligopoly, and monopoly.

Demand Curve

A graph showing the relationship between the price of a good and the quantity of that good consumers are willing and able to purchase at various prices.

Resource

Assets, materials, or inputs used to produce goods and services, including natural resources, labor, and capital.