We Would Expect a Cartel to Achieve

question 177

Multiple Choice

We would expect a cartel to achieve

• A) both allocative efficiency and productive efficiency.
• B) allocative efficiency but not productive efficiency.
• C) productive efficiency but not allocative efficiency.
• D) neither allocative efficiency nor productive efficiency.

Understand the time consumption and drawbacks of the essay method in performance evaluations.

Recognize the strengths and weaknesses of various performance evaluation approaches, including critical incident method and balanced scorecard.

Understand how performance is a function of ability, motivation, and environment.

Discuss the purposes of performance evaluation and strategies for minimizing legal challenges.

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Definitions:

Rivalry

The competitive relationship between businesses in the same industry, aiming to achieve higher sales, market share, and customer loyalty.

Competition

A scenario where two or more parties strive for a common goal which cannot be shared, such as market share, victory in a sport, or the acquisition of a contract.

Industry

Refers to the production of goods or services within an economy, typically classified into sectors based on their main source of revenue and activity.

Competitive Forces

Market dynamics that impact the competitive landscape, often analyzed through frameworks like Porter's Five Forces, including threats from new entrants, bargaining power of suppliers and buyers, threats from substitute products, and rivalry among existing competitors.