When a Single Firm Can Supply a Product to an Entire

question 13

Multiple Choice

When a single firm can supply a product to an entire market at a lower cost than could two or more firms, the industry is called a

• A)resource industry.
• B)exclusive industry.
• C)government monopoly.
• D)natural monopoly.

Comprehend the impact of consumer behavior and environmental changes on management practices.

Recognize the principles of human needs as per Maslow's theory.

Differentiate between classical and behavioral management approaches and their influence on worker motivation.

Understand how to calculate total dollar return on stocks.

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Definitions:

Resistance

Opposition or unwillingness to accept or comply with something.

Self-Actualization

The realization or fulfillment of one's talents and potentialities, often considered as the highest need in Maslow's hierarchy of needs.

Psychological Disorders

Mental processes and/or behavior patterns that cause emotional distress and/or substantial impairment in functioning.

Natural Tendency

An innate or inherent inclination or predisposition towards a particular behavior, action, or thought pattern.