Which of the Following Is the Best Example of a Firm

question 207

Multiple Choice

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

• A) a pizza parlor operating near a college campus
• B) Shell Oil Company, a major refiner of gasoline
• C) a Texas rancher that raises beef cattle
• D) Boeing, the aircraft manufacturer

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Definitions:

Competitive Advantage

A state or condition that elevates a corporation to a more favorable or dominant position over its adversaries.

Organization Earn

The income generated by a business or entity from its operational and non-operational activities.

Legal-political Conditions

The framework of legal regulations and political factors that shape the operational environment of businesses and organizations.

Global Business

Business activities that cross national borders, involving transactions of goods, services, or resources between parties in different countries.