For Years, Economists Believed That Market Structure Explained the Ability

question 199

Multiple Choice

For years, economists believed that market structure explained the ability of some firms to earn economic profits.Today, economists and business strategists put greater emphasis on

• A)the number of years a firm has been in business and the average price of the products sold by the firm.
• B)the number of countries in which a firm conducts business and the number of employees the firm has in each country.
• C)the characteristics of individual firms and the strategies their managements use to continue to earn economic profits.
• D)the size of a firm relative to the industry average and the number of firms in the domestic industry.

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Definitions:

Disciplinary Process

A formal procedure by which an employer addresses an employee's unacceptable behavior or performance, potentially leading to consequences if improvement is not seen.

Management Personnel

Employees who are responsible for planning, directing, and overseeing the operations and employees within an organization.

Termination Meetings

Scheduled meetings where an employee is informed by management about their employment being ended.

Neutral Location

A place chosen for meetings, negotiations, or discussions that does not give advantage to any of the parties involved.