The Owner of a Small Greeting Card Company Does Not

question 39

Multiple Choice

The owner of a small greeting card company does not want to challenge her staff to look at the production of greeting cards or the greeting card market in new ways. The owner has worked with her staff since the company began twenty yeas ago. Which of the forces of change is the owner NOT willing to adjust?

• A) social
• B) ethical
• C) competitive
• D) economic

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Definitions:

Auction With Reserve

A type of auction in which the seller reserves the right to accept or reject the highest bid.

Auction Without Reserve

An auction in which the item for sale will be sold regardless of the price, as there is no minimum bid or reserve price.

Open Price Term

In a contract, a provision that allows the price to be determined later based on agreed criteria or market conditions.

Finance Lease

A type of lease in which it is assumed that the lessee will use the leased asset for a significant portion of its useful life, and the lease payments cover the full cost of the asset along with providing a return to the lessor.