Which of the Following Is a Characteristic of a Well-Functioning

question 33

Multiple Choice

Which of the following is a characteristic of a well-functioning group?

• A)decisions are usually based on what a majority of the group wants
• B)conflict and disagreement tend to be over individual personalities or approaches
• C)the atmosphere tends to be stressful and formal
• D)people express both their feelings and their thoughts

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Definitions:

Easy Entry

Market condition where there are few if any barriers for new firms to enter and compete in an industry.

Homogeneous Products

Goods that are perfect substitutes for each other; they are identical in quality, function, and appearance.

Mutual Interdependence

A situation in a market where the actions of one firm significantly impact the profitability of other firms within the same market.

Barriers to Entry

Obstacles that make it difficult for new competitors to enter a market, including high startup costs, strict regulations, or strong incumbents.