Which of the Following Is Not a Characteristic of Fragmented

question 71

Multiple Choice

Which of the following is not a characteristic of fragmented industries?

• A) A large number of small competitors
• B) High barriers to entry
• C) Many "custom-made" or specialty firms
• D) Few economies of scale
• E) Low consolidation

Recognize and describe social control mechanisms and conformity enforcement in societies.

Identify and debunk common misconceptions about genetics and human behavior.

Analyze the influence of biological and sociological theories on understanding social behavior.

Distinguish between various types of social norms and their significance.

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Definitions:

Alfred Marshall

He was a prominent British economist in the late 19th and early 20th centuries, best known for his significant contributions to the principles of microeconomics.

Price Determination

The process by which the prices of goods and services are established based on supply and demand conditions.

Supply and Demand

The fundamental economic model describing how prices vary as a result of a balance between product availability and the desire of buyers.

Quantity Demanded

The aggregate quantity of a product or service that buyers are prepared to buy at a specific price point.