A ________ Is a Group of Organizations with Similar Needs

question 41

Multiple Choice

A ________ is a group of organizations with similar needs that band together to create a new entity to address those needs.

• A) joint venture
• B) network
• C) consortia
• D) strategic alliance
• E) trade association

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Definitions:

Convex Preferences

Preferences that express a consumer's desire for diversified bundles of goods over extreme bundles, depicted graphically as convex indifference curves.

Edgeworth Box

A diagram representing various distributions of resources, used to examine issues of allocation efficiency in economics.

Indifference Curves

Graphical representations showing combinations of two goods that give a consumer equal levels of satisfaction, indicating preferences.

Pareto Optimal

A condition of resource allocation in which it is impossible to make any one individual better off without making someone else worse off, signifying an efficient distribution of resources.