For Years, Economists Believed That Market Structure Explained the Ability

question 199

Multiple Choice

For years, economists believed that market structure explained the ability of some firms to earn economic profits.Today, economists and business strategists put greater emphasis on

• A)the number of years a firm has been in business and the average price of the products sold by the firm.
• B)the number of countries in which a firm conducts business and the number of employees the firm has in each country.
• C)the characteristics of individual firms and the strategies their managements use to continue to earn economic profits.
• D)the size of a firm relative to the industry average and the number of firms in the domestic industry.

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Definitions:

Telecommuting

Telecommuting is a work arrangement where employees perform their job duties from a remote location, often their home, using digital communication tools.

Dependent Care

Relates to services or support for individuals who cannot care for themselves, often children or the elderly, provided by someone other than the primary caregiver.

Team-Based Incentive Pay

A compensation strategy where team members receive bonuses or rewards based on the collective performance of their group.

Individualistic Culture

A societal model that places the emphasis on personal achievement and independence over the well-being of the group.