A New Business That Sets Up A(n) ________ from the Start

question 203

Multiple Choice

A new business that sets up a(n) ________ from the start is saving itself time and grief later.

• A) angel investment network
• B) good accounting system
• C) detailed supplier network
• D) vertical marketing system

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Definitions:

Price Leadership

A situation where one dominant firm in an industry sets the price of goods or services, and other firms follow suit.

OPEC

The Organization of the Petroleum Exporting Countries, an international cartel that aims to manage the supply of oil in an effort to set the price of oil on the world market.

Oil Cartel

An association of oil-producing countries that agree to coordinate their oil production to control the price of oil on the global market.

Norway

A country in Northern Europe known for its vast coastlines, fjords, and extensive welfare system.