A Low Concentration Ratio Means That

question 114

Multiple Choice

A low concentration ratio means that

• A)there is a low probability of entering the industry.
• B)there is a low probability of success in the industry.
• C)each firm accounts for a small market share of the industry.
• D)each firm accounts for a large market share of the industry.

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Definitions:

Détente

A period of improved relations between two countries that were previously in conflict or tension.

Soviet Union

A federal socialist state in Eastern Europe and Asia, existing from 1922 to 1991, and was a major player in global affairs.

Foreign Policy

A government's strategy in dealing with other nations, including diplomacy, military action, and other interactions.

1972 Summit

A significant series of meetings during the Cold War, particularly referring to the historic Summit Series ice hockey competition between Canada and the Soviet Union.