A(n) ________ Is a Document That Thoroughly Explains a Business

question 14

Multiple Choice

A(n) ________ is a document that thoroughly explains a business idea and how it will be carried out.

• A) Business plan
• B) Analysis
• C) Resume
• D) Marketing plan
• E) Operations plan

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Definitions:

Price Leadership

Strategy where the leading firm in an industry sets the price of goods or services, which other firms in the market then follow or undercut.

Covert Collusion

An indirect or secret agreement among competitors to engage in anti-competitive behaviors, such as price-setting, that is not openly acknowledged or visible to regulatory authorities or the public.

Herfindahl-Hirschman Index

A measure of market concentration used to determine the level of competition within industries.

Kinked Demand Curve

A perceived market demand curve that suggests prices will rapidly decrease if a firm raises its prices above those of its competitors, but will not increase significantly if the firm lowers prices.