Which of the Following Statements Is True Regarding Professional Organizations

question 22

Multiple Choice

Which of the following statements is true regarding professional organizations?

• A) Typically, membership to a professional organization is free and open to all.
• B) Professional organizations run on a for-profit basis to make them more efficient.
• C) Professional organizations do not exist for professions based in the service industry.
• D) Identifying and networking with such organizations is a good recruitment strategy.
• E) Professional organizations do not encourage job postings and announcements.

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Definitions:

Product-variety Externality

An economic condition where the diversity of products benefits consumers more than what is accounted for by the producers, leading to positive external effects in a market.

Business-stealing Externality

A business-stealing externality occurs when the entry of new businesses reduces the demand for existing businesses, potentially lowering profits without necessarily benefiting consumers.

Positive Externality

An advantage received by individuals without their active choice, commonly linked to communal goods or services.

Lodging Markets

The segment of the hospitality industry that provides accommodations or places to stay to travelers.