As It Relates to New Businesses, One Function of a Social

question 42

Multiple Choice

As it relates to new businesses, one function of a social network is to

• A) promote the enterprise during conversations with potential rivals.
• B) provide a pool of candidates for leadership positions.
• C) assure a steady flow of applicants for production positions.
• D) connect the enterprise to a web of contacts that provides access to a wide range of resources.

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Definitions:

Tariffs

Taxes imposed on imported goods and services, often used to protect domestic industries from foreign competition.

Comparative Advantage

A theory that suggests a country should specialize in producing and exporting goods and services for which it has the lowest opportunity cost.

Resources

Land, labor, capital, and entrepreneurial ability used to produce goods and services.

Comparative Advantage

The ability of an individual, firm, or country to produce a good or service at a lower opportunity cost than competitors, leading to specialized production and trade.