What Is the Term That Describes When Two or More

question 45

Multiple Choice

What is the term that describes when two or more enterprises encounter each other in different regional markets, national markets, or industries?

• A) Multipoint competition
• B) Monopoly
• C) Location-specific competition
• D) Oligopoly

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Definitions:

Division of Labor

The assignment of different parts of a manufacturing process or task to different people in order to improve efficiency.

Genetic Engineering

The modification of an organism's characteristics by manipulating its genetic material, often to include traits that do not occur naturally.

Social Inequality

The unequal distribution of resources, opportunities, and privileges among individuals or groups in a society.

Pastoral Societies

Are those in which people domesticate cattle, camels, pigs, goats, sheep, horses, and reindeer. Such societies first emerged about 10,000 years ago. Domesticating animals increases the food supply and makes it more dependable. This increases average settlement size and permanence, the division of labor, productivity, and inequality above the levels typical of foraging societies.