James B.Duke Influenced Modern Business Techniques by

question 88

Multiple Choice

James B.Duke influenced modern business techniques by

• A)introducing new cost-accounting procedures.
• B)purchasing a fleet of ships to tap into the world market.
• C)using aggressive national advertising campaigns and regional sales representatives.
• D)allowing his workers to purchase company stock.
• E)encouraging a unionized work force.

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Definitions:

Consumers

Individuals or groups that purchase goods and services for personal use.

Market System

An economic system where decisions regarding investment, production, and distribution are guided by the price signals created through the forces of supply and demand.

Public Good

A public good is a product or service that is non-excludable and non-rivalrous, meaning it can be consumed by anyone without reducing its availability to others.

Nonexcludability

A characteristic of public goods where it is not feasible to exclude individuals from using the good or benefiting from it.