It Would Be Impossible for Members of the Fast-Food Industry

question 87

Multiple Choice

It would be impossible for members of the fast-food industry to collude to fix prices because

• A)there are too many fast-food firms in the market.
• B)collusion is illegal.
• C)there are not enough fast-food firms in the market.
• D)the price of fast-food is too low.
• E)demanders would not buy from firms that collude.

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Definitions:

McClelland's Primary Goals

Refers to David McClelland's theory identifying three primary motivations in people: the need for achievement, the need for affiliation, and the need for power.

Achievement

The successful accomplishment or attainment of goals, often through effort, skill, or courage.

Mastery

The process of acquiring complete knowledge or skill in a subject or activity, achieving a level of expertise that allows one to perform tasks with confidence and efficiency.

Achievement Motivation

The drive or desire to accomplish goals, excel, and pursue success in various endeavors.