Which of the Following Is the Best Example of a Business

question 90

Multiple Choice

Which of the following is the best example of a business firm operating in a competitive price-taker market?

• A) TGIFriday's, a restaurant chain that operates in numerous locations
• B) a bookstore located a few blocks from a major university
• C) Ford Motor company, a major manufacturer of automobiles that operates in numerous markets throughout the world
• D) an Indiana hog farmer that raises pigs

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Definitions:

Extinction

In psychology, the process through which a conditioned response diminishes and eventually disappears as a result of the conditioned stimulus being presented without the unconditioned stimulus.

Conditioned Response

The learned response to a previously neutral stimulus that has become associated with an unconditioned stimulus in classical conditioning.

Food

Any nutritious substance that people or animals eat or drink to maintain life and growth.

Extended Exposure

A therapeutic technique involving repeated, prolonged contact with a feared stimulus, aiming to reduce anxiety or distress associated with it.