According to Warren Buffett,which of the Following Is the Most

question 66

Multiple Choice

According to Warren Buffett,which of the following is the most important lesson on growth and profitability?

• A)Investors should have invested in the car industry in the early 20^th century.
• B)Investors should have invested in the aircraft manufacturing industry in the early 20^th century.
• C)One should look to invest in economically important sectors of the economy that have room for many firms.
• D)Understanding a firm's competitive advantage is more important than understanding the firm's growth rate or impact on society.

---

Definitions:

Communist Party

A political party advocating the principles of communism, including the elimination of private property and the promotion of a classless society.

Professional Baseball

The highest level of baseball play, involving teams and players who are paid for their performance.

UAW

United Auto Workers, a labor union representing workers in the United States, Canada, and Puerto Rico, primarily in the automotive industry.

NAACP

The National Association for the Advancement of Colored People, a civil rights organization founded in 1909 to fight prejudice, lynching, and Jim Crow segregation, and to work for the betterment of people of color.