For Years, Economists Believed That Market Structure Explained the Ability

question 199

Multiple Choice

For years, economists believed that market structure explained the ability of some firms to earn economic profits.Today, economists and business strategists put greater emphasis on

• A)the number of years a firm has been in business and the average price of the products sold by the firm.
• B)the number of countries in which a firm conducts business and the number of employees the firm has in each country.
• C)the characteristics of individual firms and the strategies their managements use to continue to earn economic profits.
• D)the size of a firm relative to the industry average and the number of firms in the domestic industry.

Evaluate the practical applications of behavioral economic strategies in improving individual and societal outcomes.

Understand the concept of implicit and incentive-based trust and distinguish between various sources of trust development.

Recognize the importance of group emotion in team dynamics and coordination.

Identify key predictors of newcomer performance in team development.

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Definitions:

Strive

To make great efforts to achieve or obtain a specific objective.

Inferiority

A feeling of lower status or quality compared to others, often associated with low self-esteem or lack of confidence.

Human Qualities

Characteristics, traits, or attributes that are considered to be inherent to humans, including emotional, social, and cognitive abilities.

Growth

The process of increasing in physical size, psychological maturity, or progress in developmental stages.