Which of the Following Is the Best Example of a Firm

question 36

Multiple Choice

Which of the following is the best example of a firm operatingin an oligopoly market?

• A)Walmart, a large retailer
• B)ExxonMobil, one of the seven major refiners of oil (True Answer )Correct
• C)McDonald's, a fast-food restaurant chain
• D)a corn farmer in Oklahoma

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Definitions:

Albert Mehrabian

A psychologist known for his work on non-verbal communication and the 7-38-55 rule, emphasizing the importance of non-verbal cues over verbal in personal communication.

Nonverbal Communication

The exchange of information through body language, facial expressions, and other visual cues rather than words.

Grapevine

An informal communication network within an organization or group, often characterized by rumor, gossip, or unofficial information.

Formal Organization

An organized structure of roles and procedures designed to achieve specific goals, typically characterized by a clear hierarchy and regulations.