Which of the Following Statements Is True About the Business

question 98

Multiple Choice

Which of the following statements is true about the business implications of Japanese society?

• A)The determination of social status of an individual is independent of the standing of the group to which he or she belongs.
• B)It is difficult to find self-managing work teams within Japanese organizations.
• C)It is more successful at pioneering radically new products and new ways of doing business than the United States.
• D)There is a low degree of movement from company to company among managers and workers.
• E)The managers and workers lack company-specific knowledge,experience,and a network of interpersonal business contacts.

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Definitions:

Average-total-cost Curve

A graphical representation that shows the average total cost of producing each quantity of output.

Marginal-cost Curve

The marginal-cost curve depicts how the cost of producing one additional unit of a good or service varies as production increases.

Economies of Scale

The cost advantage that arises with increased output of a product, as costs are spread over a larger number of goods.

Wealth of Nations

A seminal book by Adam Smith that discusses economic principles and introduces the concept of the “invisible hand” guiding free markets.