If a Local Government Began Licensing Funeral Homes in the Area

question 53

Multiple Choice

If a local government began licensing funeral homes in the area, effectively making them into a cartel, we would expect

• A) the price of funeral services to rise, and the number of funerals performed in the area to fall.
• B) the price of funeral services to rise, and the number of funerals performed in the area to increase as well.
• C) the price of funeral services to fall, and the number of funerals performed in the area to increase.
• D) the price of funeral services to fall, and the number of funerals performed in the area to fall as well.

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Definitions:

Open System

A system that receives inputs from its external environment.

External Environment

Factors outside an organization that can affect its operations and success, including economic, political, social, and technological influences.

Organizational System

A structured arrangement of people, processes, and technology designed to achieve specific goals within a company.

Knowledge Structures

The ways in which information and knowledge are organized and interconnected in an individual's mind or within an organization.