Businesses That Operate in an Environment Where Success or Failure

question 88

Multiple Choice

Businesses that operate in an environment where success or failure is determined by how well they match and counter the offerings of competitors are operating under _____.

• A)the private enterprise system
• B)a social democracy
• C)a monopoly
• D)state ownership

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Definitions:

Political Organization

The way in which a society creates and maintains public authority, and the structure and function of its governing institutions.

Political Organization

The structured system through which a society or group governs or manages its public affairs, including the distribution of power and resources.

Social Order

The set of rules, norms, and standards that exist within a society to maintain stability and organization among its members.

Eradicate

To completely destroy or eliminate something, often used in the context of eradicating diseases or harmful practices.