Which One of the Following Is Not a Key Characteristic

question 24

Multiple Choice

Which one of the following is not a key characteristic that leads to a difficult competitive environment for service industries?

• A) Low barriers to entry.
• B) Lack of sustainable competitive advantage.
• C) Lack of government regulation and oversight.
• D) Low switching costs for customers.

Analyze the peculiarities of public goods and their impact on market efficiency.

Identify the consequences of negative externalities on market efficiency.

Understand the ethical duties and responsibilities in the legal profession.

Identify situations that may lead to a breach of competence.

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Definitions:

Detailed Decisions

Detailed decisions are thorough and comprehensive determinations or judgments made after considering all relevant facts, evidence, and information.

Delegating Authority

The act of assigning decision-making power or tasks to another person while retaining overall responsibility.

Monitor

This is the act of regularly observing and checking the progress or quality of something over a period of time to ensure it meets certain standards or criteria.

Notice-And-Comment Rulemaking

An administrative rulemaking procedure that involves the publication of a notice of a proposed rulemaking in the Federal Register, a comment period for interested parties to express their views on the proposed rule, and the publication of the agency’s final rule in the Federal Register.