What Is the Name for the Business Strategy in Which

question 24

Multiple Choice

What is the name for the business strategy in which a dominant corporation buys or forces out most of its competitors?

• A) horizontal integration
• B) tariffs
• C) laissez-faire
• D) vertical integration
• E) economies of scale

Understand the definition and components of costs in economic production.

Identify the historical economic strategies of nations such as the Soviet Union and pre-reform China and their impacts.

Grasp the importance of property rights in an economic system.

Understand the function of money as a medium of exchange and its importance in facilitating trade.

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Definitions:

Tractors

Heavy-duty vehicles designed primarily for agricultural use, including plowing, tilling, and planting fields.

Autarky

Autarky is an economic policy or situation in which a country is self-sufficient and does not engage in international trade.

Comparative Advantage

The ability of an individual, firm, or country to produce a good or service at a lower opportunity cost than competitors.

Exports

Goods or services sent from one country to another for sale or trade.