Resources Are Not Free to Move into and Out of an Industry

question 85

Multiple Choice

Resources are not free to move into and out of an industry when:

• A)there are no differential impediments across firms in the mobility of resources.
• B)a firm experiences economies of scale.
• C)an incumbent firm has an exclusive government patent.
• D)firms are price takers.

---

Definitions:

Space

The physical or virtual extent in which objects and events occur and have relative position and direction.

Verbal Messages

Information or feelings conveyed through the spoken word as opposed to non-verbal ways of communication.

Active Listening

The fully concentrated and engaged process of hearing, understanding, remembering, and responding to what is being said.

Communication Transparency

The open and honest exchange of information and intentions, enabling clarity and trust in communication.