6 through 8 5. Airline Industry: In this industry, there are a few sellersthat tend to dominate the market.O Perfect CompetitionO Monopolistic CompetitionO OligopolyO Monopoly6. Athletic Shoe Industry: In this industry the products arevery similar, although consumers perceive them as beingvery different.O Perfect CompetitionO Monopolistic CompetitionO OligopolyO Monopoly7. ACME Light and Power: Through special legislation, thissupplier is the sole provider of electricity to its localmunicipalities.O Perfect CompetitionO Monopolistic CompetitionO OligopolyO Monopoly8. Cable Television Industry: In smaller markets, onecompany is the sole provider of cable television service toconsumers in local municipalities.O Perfect CompetitionO Monopolistic CompetitionO OligopolyO MonopolyPrev1 of 1Next Free-Market CompetitionA free market is one where decisions regarding what andhow much to produce are made by the market itself. Thismarket is made up of buyers and sellers negotiating pricesfor goods and services. It is generally accepted that thereare four degrees of competition within a free-marketsystem. These include perfect competition, monopolisticcompetition, oligopoly, and monopoly.One benefit of the free market is that it allows opencompetition among companies. Businesses must providecustomers with high-quality products at fair prices withgood service. If they don't, they lose customers tobusinesses that do.Select the degree of competition that best describes eachlisted industry or business based on the description.1. Automotive Industry: In this industry, there are a fewsellers that tend to dominate the market.O Perfect CompetitionO Monopolistic CompetitionO OligopolyO Monopoly2. Beef Industry: There are many different suppliers ofthese products, which prevents any one of them fromsetting prices.O Perfect CompetitionO Monopolistic CompetitionO OligopolyO Monopoly3. Soda Industry: In this industry the products are verysimilar, although consumers perceive them as being veryT---JJ:

The suppliers and their consumer base determine the market competition.

Answered: industry

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

See similar textbooks

Similar questions

Practical Management Science 6th Edition, WINSTON Chapter 10 Case 1 Ski Jacket Production
5. Patricia owns significant shares in an airline. There has been much speculation in the news that the price of oil may go up, negatively impacting the airline's profits. Patricia is contemplating buying stock in an oil and gas company as a way to cover her investment. This risk management strategy is commonly known as a. Self-insurance b. Hedging c. Loss Prevention d. Avoidance
A f t e r w a t c h i n g t h e m o v i e , c a t c h m e i f y o u c a n . W h a t a r e y o u r t h o u g h t s , l e a r n i n g s , o b s e r v a t i o n s , a n d o p i n i o n s ? P l e a s e w r i t e i t i n e s s a y f o r m . A n d s u m m a r i z e s t h e s t o r y o f i t .
1- explain the significance of the break-even chart and profit volume graph. 2-
Part (a). You are working as an accountant in XYZ Limited (a mid-size accounting firm with a reasonable range of clients). Currently, you ask the employees to provide the relevant information to initiate the planning phase of the audit. Further, you plan to draw the data from analytical reviews and substantive testing from the operational database. However, the management of your client wants you to draw the data from the data warehouse. The management argues that the data extracted from the operational database will disrupt the operations. Further, the management points out that operational data are copied weekly into the data warehouse, and all data you need are contained there. Required: We have discussed the operational database and data warehouse under the topic "ERP Core Applications" in the Week 10 Interactive Tutorial. Based on this discussion, outline your response to the management's proposal and mention any concerns you might have. Part (b). Production planning and…
98. The eligibility requirements under group term life plans may allow all of the following employees to be excluded EXCEPT Employees who work less than 20 Employees who work less than 4 months per year Employees who work more than 40 hours a week. Full-time employees not actively at work.
1. Describe employee management in f&b cafe. 2. Describe menu management in f&b cafe. 3. Describe crm management in f&b cafe.
1. Retrieve the SEC's complaint against ClearOne Communications, Inc. (www.sec.gov/ litigation/litreleases/lr17934.htm). Describe management's scheme for inflating revenue.
C r e a t e a t a b l e t h a t c o m p a r e s t h e s p e c i f i c c h a n g e s a n d a m e n d m e n t s o f a r t i c l e s 6, 7 a n d 8 o f R A 2 6 5 a n d R A 7 6 5 3 a n d R A 1 1 2 1 1 b y s e c t i o n s a n d a r t i c l e. D o n ' t f o r g e t t o i n c l u d e t h e s e c t i o n s o f e v e r y a r t i c l e
4. Managing Knowledge and Artificial Intelligence (LO 2, 3 – 20%) The pandemic that has occurred over the past 2 years has not only had a negative impact but also a positive impact. We can see that since the onset of the pandemic, the entire business world must move quickly to adapt, especially in the field of technology in order to survive. Knowledge & Artificial Intelligence has become an important key in the success of a company. Please study, explain and provide at least 3 (three) examples of tangible evidence of the benefits of using knowledge & artificial intelligence in the following fields! a. Health Industry
8*. Consider a market with an incumbent firm. Another firm with the same marginal cost would like to enter the market. Which of the following statements is CORRECT? (a) Entry is blocked if the incumbent has to change her behavior to prevent entry. X(b) Entry is accommodated if the incumbent modifies his production in order to take into account the production of the rival firm. (c) Entry is accommodated if the fixed entry costs are sufficiently high, to prevent entry. (d) Entry is deterred if the incumbent firm does not face a credible entry threat. Thus, no firm will find profitable to enter even if the incumbent produces the monopoly quantity.
David works for Wool garments company as a production manager. He often participates in the annual budgeting process of the company. David is requested by the Chief Executive Officer Linda to submit his department’s budgeted production for the following year. Linda reviews and typically adds 10 percent to the production budget provide by David. The new amount becomes David’s target production level for the following year. David can receive a cash bonus if his department exceeds the projected production level. 3. Suggest what should be done to prevent a manager from providing inaccurate budgets which can easily achieved.

SEE MORE QUESTIONS

Recommended textbooks for you

Understanding Business

Management

ISBN:

9781259929434

Author:

William Nickels

Publisher:

McGraw-Hill Education

Management (14th Edition)

Management

ISBN:

9780134527604

Author:

Stephen P. Robbins, Mary A. Coulter

Publisher:

PEARSON

Spreadsheet Modeling & Decision Analysis: A Pract…

Management

ISBN:

9781305947412

Author:

Cliff Ragsdale

Publisher:

Cengage Learning

Understanding Business

Management

ISBN:

9781259929434

Author:

William Nickels

Publisher:

McGraw-Hill Education

Management (14th Edition)

Management

ISBN:

9780134527604

Author:

Stephen P. Robbins, Mary A. Coulter

Publisher:

PEARSON

Spreadsheet Modeling & Decision Analysis: A Pract…

Management

ISBN:

9781305947412

Author:

Cliff Ragsdale

Publisher:

Cengage Learning

Management Information Systems: Managing The Digi…

Management

ISBN:

9780135191798

Author:

Kenneth C. Laudon, Jane P. Laudon

Publisher:

PEARSON

Business Essentials (12th Edition) (What's New in…

Management

ISBN:

9780134728391

Author:

Ronald J. Ebert, Ricky W. Griffin

Publisher:

PEARSON

Fundamentals of Management (10th Edition)

Management

ISBN:

9780134237473

Author:

Stephen P. Robbins, Mary A. Coulter, David A. De Cenzo

Publisher:

PEARSON

SEE MORE TEXTBOOKS