Which of the Roles Described Here Is More of an Informal

question 7

Multiple Choice

Which of the roles described here is more of an informal role than a formal role?

• A) Zyna's role of balancing the checkbook as the club's treasurer
• B) Cecelia's role of taking notes as the club's secretary
• C) Francisco's role of maintaining order as the club's parliamentarian
• D) Jenny's role of "taskmaster" because of her ability to maintain focus and not be sidetracked by frivolity and side talk

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Definitions:

Monopolistic Industry

An industry dominated by a single firm that has control over the market prices and production.

Unique Product

A product that has distinct features or attributes making it different from others in the market.

Blocked Entry

A situation where new firms are unable to enter an industry due to high barriers to entry, such as high start-up costs or stringent regulations.

Oligopolistic Industry

A market structure characterized by a small number of large firms dominating the industry, with significant barriers to entry for new competitors.