Apple Introduced Its IPhone 3G in July 2008 and Within

question 180

Multiple Choice

Apple introduced its iPhone 3G in July 2008 and within a month sales had topped 3 million units.By April 2009, more than 25,000 apps for the iPhone 3G were available in the iTunes store, an indication that in a competitive market,

• A)the ease at which a new firm can enter a competitive market is low.
• B)the ease at which a new firm can enter a competitive market is high.
• C)entry into the market is blocked.
• D)entry into the market is restricted in the short run, but becomes easier in the long run.

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Definitions:

Nationality Characteristics

Traits, behaviors, or cultural elements that are commonly associated with individuals from a specific nation.

Religion

A set of beliefs, practices, and moral codes based on the worship of one or more deities and the spirituality connected with them.

Cognitive Processes

Changes in an individual’s thinking, intelligence, and language skills.

Socioemotional

Relating to the interplay between social processes and emotional experiences.