Winner-Take-All Industries,where the Leading Firm Accounts for the Great Majority

question 30

Multiple Choice

Winner-take-all industries,where the leading firm accounts for the great majority of the industry's total profit,are usually the result of:

• A)Economies of scale
• B)Economies of scope
• C)Network externalities
• D)Product differentiation

Know the compensation range for experienced paralegals.

Distinguish between the terms paralegal, legal assistant, and other related titles.

Recognize professional organizations associated with paralegals and their concerns.

Identify the range of tasks and responsibilities of paralegals.

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Definitions:

BCG Matrix

A strategic business tool developed by the Boston Consulting Group to help organizations with portfolio management, analyzing business units or product lines based on their market growth rate and market share.

SWOT Analysis

A strategic planning tool used to identify and analyze the Strengths, Weaknesses, Opportunities, and Threats related to business competition or project planning.

Per-Unit Costs

The total expense incurred to produce, store, and sell one unit of a product or service, including material, labor, and overhead costs.

Market Share

The percentage of an industry's total sales that is earned by a particular company over a specified time period.