The Introduction of the Minicomputer

question 19

Multiple Choice

The introduction of the minicomputer:

• A)allowed computers to be customized to the specific needs of departments or business units.
• B)strengthened centralized computing.
• C)offered new,powerful machines at higher prices than mainframes.
• D)represented the rise of Microsoft.
• E)was dominated by IBM.

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Definitions:

Oligopolies

Oligopolies are market structures characterized by a small number of firms dominating the market, leading to limited competition.

Oligopolistic Firms

Companies operating in an oligopoly market structure where a small number of firms have significant market power and can influence market prices and decisions.

Interdependence

A situation where entities are dependent on each other, often observed in global economies where countries rely on others for resources, technology, or markets.

Price Takers

Firms or individuals who accept the market price as given and have no influence to alter the price of the good or service they are selling or buying.