In Smaller Entrepreneurial Firms and Even in More Adaptive Larger

question 70

Multiple Choice

In smaller entrepreneurial firms and even in more adaptive larger firms,managers

• A)are no longer utilized.
• B)rely more heavily on technical skills.
• C)serve as "experts" on whom the entire firm depends.
• D)have strategic,tactical and operational responsibilities.
• E)focus on internal operations only.

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Definitions:

Product Prices

The amount of money required to purchase a product, influenced by cost of production, supply, demand, and market competition.

Minimum Standard

The lowest level of quality, performance, or subsistence considered acceptable by regulatory bodies or society.

Income Inequality

The unequal distribution of income among individuals or households within a population.

Goods And Services

The physical items (goods) and activities or benefits (services) that fulfill consumer needs and wants.