Which of the Following Has the Most Limited Versatility

question 28

Multiple Choice

Which of the following has the most limited versatility?

• A) database software
• B) custom software
• C) spreadsheet software
• D) dedicated software

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Definitions:

Oligopoly

A market structure characterized by a small number of firms controlling a large share of the market, leading to limited competition.

Concentration Ratios

Statistical measures used to evaluate the degree of competition within markets by analyzing the market share of the largest firms.

Concentrated Industry

An industry characterized by a small number of large firms that have a significant market share, leading to reduced competition.

Herfindahl-Hirschman Index

A measure used to assess the level of competition within an industry, calculated by squaring the market share of each firm competing in the market and then summing the resulting numbers.