Which of the Following Is NOT a Characteristic of a Small

question 81

Multiple Choice

Which of the following is NOT a characteristic of a small business?

• A) has cutting edge, innovative business practices
• B) has about 200 employees
• C) is not a "player" with impact within its industry
• D) has a relatively small market share of its product

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Definitions:

Inferior Good

A type of good for which demand decreases as the income of consumers increases, inversely related to income elasticity.

Demand

The amount of a product or service that consumers are prepared and capable of buying at different price levels over a specific time frame.

Related Goods

Related goods are goods that can either be substitutes or complements to each other, affecting each other's demand and consumption patterns.

Complements

Goods or services that are used together, where demand for one increases demand for the other.