[Instructor: Use This Question If the Associated Slide Presentations Have

question 13

Multiple Choice

[Instructor: Use this question if the associated slide presentations have been used.] Relationships can be used for which of the following purposes?

• A) to explain movements in one variable
• B) to predict and forecast
• C) to create theory
• D) all of the above

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Definitions:

Resource Based Perspective

A management tool used to identify and evaluate resources within an organization to gain and sustain competitive advantage.

Elastic Demand

The characteristic of a good or service wherein its demanded quantity significantly changes due to changes in its price.

Organizational Structures

The system that outlines how certain activities are directed in order to achieve the goals of an organization, including the roles and responsibilities of employees.

Barriers To Entry

Obstacles that prevent or hinder new competitors from easily entering an industry or area of business.