Which of the Following Is Closest to the Economist's Definition

question 71

Multiple Choice

Which of the following is closest to the economist's definition of perfect competition?

• A)the airline industry 
• B)the soft drink industry 
• C)the fishing industry 
• D)cellular telephone service

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Definitions:

Knowledge Resources

Assets or information sources within an organization that enhance decision-making, problem-solving, and strategic planning through expertise and intelligence.

Research Capabilities

The potential or ability of individuals or organizations to conduct systematic investigation into a field of study in order to discover, interpret, or revise facts, theories, and applications.

Outsourcing

The practice of hiring external entities to perform services or produce goods traditionally done by the company's own employees.

Organizational Restructuring

The act of reordering or changing the structure, operations, or processes of an organization to improve efficiency, adapt to new market conditions, or achieve strategic goals.