The Effect of a Recession on a Company Like Whirlpool

question 119

Multiple Choice

The effect of a recession on a company like Whirlpool Corporation is such that

• A)sales decline more sharply for Whirlpool as compared to firms that do not produce durable goods.
• B)profits fall less sharply as compared to firms that do not produce durable goods.
• C)the decline in sales is more short-lived as compared to firms that do not produce durable goods.
• D)there is no difference in the impact of the recession on its profits as compared to firms that do not produce durable goods.

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Definitions:

Cultural Beliefs

Shared ideas that are accepted as true by a particular group of people, shaping their values, norms, and behaviors.

Practices

Commonly refers to habitual actions or behaviors that are a part of the daily lives of individuals or groups within a society.

Talcott Parsons

An influential American sociologist known for his theories on social action, systems theory, and the role of values in social order.

Goal-attainment Imperative

A concept in sociology and organizational theory indicating that organizations and societies mobilize resources and establish procedures to achieve specific goals.