Which of the Following Is Not Part of the Definition

question 88

Multiple Choice

Which of the following is not part of the definition of a small business?

• A) It employs 1,000 or more employees.
• B) It employs fewer than 500 employees.
• C) It is independently owned.
• D) It is not dominant in its field.
• E) It is independently operated.

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Definitions:

Federal Law

Legislation passed by the national government of the United States that applies throughout the country.

Creative Destruction

The hypothesis that the creation of new products and production methods destroys the market power of existing monopolies.

Dominant Firms

Companies that have a major share of sales in a specific market, significantly influencing that market's dynamics.

New Firms

Newly established businesses entering the market, often bringing innovation or increasing competition in their industry segment.