Every Public Company Must Have at Least Three Directors, and Every

question 31

Multiple Choice

Every public company must have at least three directors, and every proprietary company must have at least:

• A)One director.
• B)Two directors.
• C)Three directors.
• D)Four directors.

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Definitions:

Dominant Firms

Companies that have a major portion of market share and can significantly influence market conditions and prices.

New Products

Items or services that have recently been introduced to the market and offer new features, functionalities, or benefits to consumers.

Market Economies

Economic systems in which economic decisions and pricing are guided by the interactions of citizens and businesses rather than by central planning.

Product Innovation

The process of developing new products or significantly improving existing ones to meet consumer needs or open new markets.