Kami and Derek went to the mall. While there they passed a Vans store, Nike's store, New Balance store, and Adidas store. Derek commented that there was really a large number of sellers and noted that there seemed to be many buyers as well. What kind of market competition is represented by these stores?
A) Perfect.
B) Monopolistic.
C) Oligopoly.
D) Monopoly.
Question 2 - The income an individual receives from all sources less the Social Security taxes that the individual must pay is called personal income.
Indicate whether the statement is true or false
Question 3 - Frank Roberts recently has been named to head a major manufacturing plant at Dow Chemical. The plant has had significant increases in inventory and declines in net income over the past two years. Frank's task is to eliminate the excess inventory and return the plant to its previous level of profitability. To begin solving this problem, Frank invites suggestions from line workers, gathers managers from various levels of the plant to brainstorm, and talks with experts in the field of operations management. This step in the managerial decision-making process is known as
A) identifying the problem.
B) generating alternatives.
C) selecting an alternative.
D) implementing a solution.
E) performance measurement.
Question 4 - In the general organizational structure, this level is flattened, meaning it has fewer people than the two levels below it.
A) executive level
B) middle management level
C) first-line management level
D) nonmanagerial level
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