There Are Several Perspectives of Competition

question 83

Multiple Choice

There are several perspectives of competition.One perspective is zero-sum thinking.Zero-sum thinking means that

• A) all parts of the organization gain at no loss.
• B) in order for someone to gain others must experience no gain or benefit.
• C) one can only gain at the expense of someone else.
• D) everyone in the organization shares gains and losses equally.

---

Definitions:

Economic Output

The total value of all goods and services produced within an economy over a specific period of time.

Transaction Costs

Expenses incurred when buying or selling goods and services, which may include search, bargaining, and enforcement costs.

Value And Exchange

The principle that the worth of goods and services is determined through the process of trading them in markets, where their value is influenced by supply and demand.

Objective Value

The perceived worth of a good or service based on its ability to fulfill a need or want, as opposed to subjective personal preferences.