When a Firm's Capability Is Superior to That of Its

question 104

Multiple Choice

When a firm's capability is superior to that of its competition,the firm has a ________.

• A)want but not a need
• B)service exchange
• C)distinctive competency
• D)social benefit
• E)limited sales volume

---

Definitions:

Keynesian Economics

An economic theory stating that government intervention is necessary to help economies emerge from recession, through policies that stimulate demand, control inflation, and adjust interest rates.

Paradox of Voting

The concept that for a rational, self-interested voter, the costs of voting will normally exceed the expected benefits, given the low probability that one vote will influence the outcome.

Majority Voting

A voting system in which decisions are made based on the majority of votes received, often used in elections and organizational decision-making processes.

Principal-Agent Problem

A scenario in which conflicts of interest arise because the goals of a principal (e.g., a shareholder) do not align with those of an agent (e.g., a company executive).