In All Four Types of Markets,a Firm's Main Objective Is

question 47

Multiple Choice

In all four types of markets,a firm's main objective is to

• A) maximize revenue.
• B) maximize output.
• C) maximize economic profit.
• D) minimize fixed cost.

---

Definitions:

Acculturation

The process of cultural and psychological change that results following meeting between cultures, involving adaptations in cultural patterns of either or both groups.

Entrepreneurial Culture

A workplace environment that values creativity, innovation, and the willingness to take risks in order to achieve business success.

Hierarchical Culture

A type of organizational culture where power and authority are clearly defined and structured from top to bottom.

Rational Culture

A type of organizational culture that emphasizes logic, efficiency, and formal structures to achieve business goals.