A _________ Is a Local Company That Has Assets That

question 19

Multiple Choice

A _________ is a local company that has assets that gives it a competitive advantage only in its home market.

• A)extender
• B)dodger
• C)contender
• D)defender

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Definitions:

Worker's Output

The quantity of goods or services produced by an employee within a certain period of time.

Corporation

A legal entity that is separate and distinct from its owners, who are shareholders, and is authorized to act as a single entity, legally endowed with rights and responsibilities.

Accounting Profit

The total revenue of a firm minus the explicit costs directly tied to those revenues.

Economic Profit

The difference between total revenues and total costs, including both explicit and implicit costs.