Every Organization Has Many Resources,capabilities and Routines However Those Few

question 9

Multiple Choice

Every organization has many resources,capabilities and routines however those few things the company does really well and are performed with a very high proficiency are termed

• A) Core competencies.
• B) Distinct capabilities.
• C) Sustainable activities.
• D) Socially complex activities.
• E) Distributive factors.

Describe the limitations on monopoly power and the effects of substitute availability.

Understand the relationship between marginal cost, marginal revenue, and output for profit maximization in monopolies.

Comprehend the concept and implications of a natural monopoly.

Distinguish between monopolies and perfectly competitive firms based on revenue, cost structures, and output decisions.

---

Definitions:

Insurer

An entity that provides insurance, offering financial protection and compensation for specified losses, damages, illness, or death in exchange for payment of premiums.

Warehouse

A large building where goods are stored before they are distributed to stores or consumers.

Principal-Agent Problem

A dilemma in economics where one party (the agent) is expected to act in the best interest of another party (the principal) but may have a motivation to act in their own interest instead.

Ownership

The legal right or state of having possession and control over property, which can be an object, land/real estate, intellectual property, or a corporate entity.