Which of the Following Is MOST Likely to Cause Firms

question 328

Multiple Choice

Which of the following is MOST likely to cause firms to exit a perfectly competitive industry?

• A) Consumer tastes and preferences for this product get stronger.
• B) A technological advance allows all firms to produce more efficiently.
• C) The price of a key variable input falls.
• D) Consumer income falls.

Outline the steps involved in a basic career management system.

Identify career management responsibilities of organizations and employees.

Explain the role of goal setting and action plans in career development.

Understand the organization's role in the goal-setting stage of career management.

---

Definitions:

Vertically Integrated

A company structure where the supply chain of a company is owned or controlled by that company, from raw materials to final product distribution.

Suppliers

Entities that provide goods or services to another organization, often integral to the supply chain.

Factory Operating

Activities and processes involved in the daily running and management of a manufacturing facility.

Maximum Rate

The highest possible rate or level of something, which might refer to interest rates, production speeds, or capacity.