Which of the following is not a method to protect intellectual property?
a) Patents that are specific and complete
b) Complete contracts regarding IP with all suppliers
c) Non-disclosure agreements for employees
d) Limiting access to IP to a few key employees
e) Charging higher prices to limit access to IP
Why might a firm not be able to react quickly to competitors’ pricing moves?
a) Lags in detecting competitors’ prices
b) Infrequent interactions with competitors
c) Ambiguities in identifying which firm among a group of firms in a market is cutting
price
d) Difficulties distinguishing drops in volume due to price cutting by rivals from drops
in volume due to anticipated decreases in market demand
e) All of the above
What term describes a market where a monopolist cannot raise price above long run
average cost?
a) Blockaded
b) Perfectly contestable
c) Accommodated
d) Deterred
e) Predatory
Which of the following factors requires the least consideration when assessing supplier
power relative to the downstream industry it sells to?
a) Competitiveness of the output market
b) Purchase volume of downstream firms
c) Availability of substitute inputs
d) Threat of forward integration by suppliers
e) Ability of suppliers to price discriminate
Aligning individual and group tasks with those of the firm and aligning incentives so
that individuals and groups will consistently work in the same direction is known as:
a) Coordination
b) Agency control
c) Accountability
d) Dimensional alignment
e) Unitary functional alignment
Which of the following government regulations on business conditions did not increase
circa 1910?
a) Regulation on corporate governance
b) Securities markets regulation
c) Antitrust regulation
d) Regulations on disability insurance provisions
e) Regulations on insurance for widows and children
What form of communication was integral to the growth of multistory headquarter
buildings?
a) Telegraph
b) Mail
c) Telephone
d) Morse code
e) Intercom
Which of the following terms best describes the division of an organization into formal
groupings?
a) Complex hierarchy
b) Coordination
c) Control
d) Hierarchy of authority
e) Departmentalization
In which of the following markets is a consumer less sensitive to price?
a) Airlines
b) Refrigerators
c) Health Care
d) Computer components
e) Washing Machines
In what type of market do the actions of individual firms materially affect the overall
market?
a) Perfectly competitive
b) Monopolistically competitive
c) Oligopoly
d) Monopoly
e) Diversified