A Market That Consists of Only a Few Large Firms

question 12

Multiple Choice

A market that consists of only a few large firms is most likely a(n) :

• A)monopoly.
• B)perfectly competitive market.
• C)monopolistically competitive market.
• D)oligopoly.

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Definitions:

Profit Goal

A financial objective set by businesses that aims to achieve a specific amount of profit over a certain period of time.

Management By Objectives (MBO)

A strategic management model that aims to improve the performance of an organization by clearly defining objectives that are agreed to by both management and employees.

Employee Motivation

The level of enthusiasm, drive, and commitment that employees bring to their work and roles within an organization.

Manager's Understanding

The comprehension and insight a manager has regarding the workings, dynamics, and needs of their team, organization, and the environment they operate within.