Paul Avery Is a Salesperson at the Only Ford Automobile

question 166

Multiple Choice

Paul Avery is a salesperson at the only Ford automobile dealership in Wausau,Wisconsin.However,there are several other auto dealerships in town,offering both domestic and foreign cars and trucks.Paul works hard to keep his customers satisfied because he knows that if his customers are unhappy,they can simply buy a car from one of the several other comparable dealers in Wausau.This marketing environment is an example of

• A)pure competition.
• B)monopolistic competition.
• C)an oligopoly.
• D)a monopoly.
• E)marginal competition.

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Definitions:

Division Of Labor

The allocation of different tasks or jobs to different people or groups, typically to improve efficiency and productivity.

Postindustrial Societies

Societies characterized by an economy dominated by services and information processing rather than the production of goods.

Capitalist Market Theory

An economic theory emphasizing private ownership of production means, creating goods and services for profit in competitive markets.

Nonstate Societies

Societies that do not have formal governmental institutions or centralized authority, often organized on the basis of kinship, clans, or tribal affiliations.