In Regard to Business Models, Which of the Following Statements

question 39

Multiple Choice

In regard to business models, which of the following statements is incorrect?

• A) There is a standard business model that most firms follow.
• B) A firm's business model is inherently dependent on the collection of resources it controls and the capabilities it possesses.
• C) It is dangerous for a company to assume that it can be successful by simply copying the business model of another firm.
• D) A firm's business model is its plan or diagram for how it competes.
• E) It is often difficult to determine what another firm's business model is.

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Definitions:

Competition

Competition in economics refers to the rivalry among sellers trying to achieve goals such as increasing profits, market share, and sales volume by varying the elements of the marketing mix.

African-American Workers

Refers to individuals of African descent in the United States who are part of the labor force, often highlighting their unique historical and socio-economic experiences.

Discrimination Coefficients

Metrics used in econometrics and statistical analyses to measure the extent of discrimination or bias present in a model or decision-making process.

Wage Rate

The amount of money paid to an employee per unit of time, such as an hour or week, for their work services.