Compete with their products on substitutable basis is called

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Reference no: EM132294866

1. __________ is a form of competition in which every company has a similar product.

A. Pure competition

B. Cross-market competition

C. Oligopoly

D. Monopolistic competition

E. Monopoly

2. The form of competition in which many sellers compete with their products on a substitutable basis is called

A. pure competition.

B. cross-market competition.

C. oligopoly.

D. monopolistic competition.

E. monopoly.

3. Baby boomers are an important target market because they

A. include most of the important business leaders in the United States.

B. represent a small proportion of the population, but have large disposable incomes.

C. have the longest life expectancies; therefore, they will remain active in the market place for the longest period of time.

D. account for the majority of purchases of most consumer products and services.

E. are the base of the pyramid.

4. Feedback refers to:

the degree to which a job entails a variety of different activities, requiring the use of different skills and talents.

the degree to which a job requires completion of an identifiable piece of work with a visible outcome.

the degree to which an individual is given direct and clear information about the effectiveness of his or her performance.

the degree to which a job provides independence and discretion to an individual in scheduling the work and determining the procedures to use.

TRUE or FALSE

5. The fashion retailer, Primark, focuses on selling clothes at low prices by streamlining logistics, spending a significant part of its budget on marketing, and using its scale to get the best supplier prices..

6. Firms that act as intermediaries between two sets of platform users (buyers and sellers) often thrive because they are not manufacturers of a product themselves.

Reference no: EM132294866

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