If It Is NOT Profitable for More Than One Firm

question 300

Multiple Choice

If it is NOT profitable for more than one firm to be in an industry, we have an example of

• A) monopoly due to ownership of key resources.
• B) monopoly due to governmental entry restrictions.
• C) monopoly due to economies of scale.
• D) pure competition.

Recognize the importance of managing behavior within the framework of democratic governance and public interest.

Grasp the concept of shared values and responsibilities in achieving public interest.

Identify central issues in organizational behavior relevant to public service.

Understand the principles of new public management and its impacts on efficiency and accountability.

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Definitions:

Chemical Plant

An industrial facility where chemical processes are carried out, especially the manufacture of chemicals or pharmaceuticals.

Corporate Veil

A legal concept that separates the personality of a corporation from the personalities of its shareholders, protecting them from personal liability for the corporation's debts and obligations.

Burwell v. Hobby Lobby

A landmark U.S. Supreme Court case that allowed closely held for-profit corporations to be exempt from regulations its owners religiously object to, if there is a less restrictive means of furthering the law's interest.

Supreme Court

The highest federal court in the United States, responsible for interpreting the Constitution and reviewing cases of national significance.