A Maker of Hardwood Flooring Experienced a Sudden Drop in Sales

question 49

Multiple Choice

A maker of hardwood flooring experienced a sudden drop in sales due to the introduction of fake wood flooring that could be produced more cheaply, installed easier, and required less maintenance that real hardwood flooring. This is an example of how one company is impacted by:

• A) technology.
• B) globalization.
• C) employee concerns.
• D) industry trends.
• E) economic conditions.

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Definitions:

Human Capital

The improvement in labor created by education and knowledge that is embodied in the workforce.

College Degree

A certification awarded by colleges or universities to signify that a student has completed a specified course of study, typically representing a higher level of education and expertise.

Stock

In finance, stock represents ownership shares in a company, allowing investors to claim on the company's assets and earnings proportionate to the amount of stock they own.

Economy

A system of production, distribution, and consumption of goods and services among a group of people.