Competition Is More Likely to Exist When

question 26

Multiple Choice

Competition is more likely to exist when

• A)there is easy entry into and exit out of industries.
• B)a government-issued license is required to set up a firm in an industry.
• C)the government purchases most goods and services.
• D)economic power is concentrated among a few large firms.

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Definitions:

Organizational Change

The process through which a company or any kind of organization changes its operational methods, strategies, structures, or culture to improve efficiency, effectiveness, or performance.

Managers

Individuals responsible for directing and overseeing the work of a group of people in an organization.

Teams

Groups of individuals working collaboratively towards a common goal or objective, leveraging diverse skills and perspectives.

Employees

Individuals who are hired by an organization to perform specific duties in exchange for compensation, forming the workforce of the company.