Which of the Following Is NOT One of the Economic

question 48

Multiple Choice

Which of the following is NOT one of the economic forces that promotes long-run profitability of business firms?

• A)Low market power of input suppliers.
• B)Low market power of consumers.
• C)Strong barriers to entry of rival firms.
• D)Fierce rivalry among the firms competing in the industry.
• E)Abundance of complementary products

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Definitions:

Formal Written Statement

A documented declaration or report that is officially prepared and presented for a specific purpose.

Management's Plans

The strategic and tactical approaches developed by an organization's management team to achieve business objectives and growth.

Responsibility Center

A segment of a business, such as a department or division, whose manager is accountable for specific financial activities and performance.

Budgetary Unit

An entity, such as a department or division, for which a budget is prepared and controlled.