IBE QUIZ 2

In Tea industry, there are many firms, each has their own distinctive taste and brand name

• 1. Oligopoly 

• 1. Perfect competition

• Monopoly

• 1. Monopolistic competition

Group of firms set prices and output according to a plan to divide the market among themselves

• Oligopoly

• Strategic interaction

• Collusion

• Monopolistic competition

A substitute product or service is:

• A new entrant into the industry

• A less attractive way of meeting the same need

• An alternative way of meeting the same need

• A competitor’s product or service

Mixed law systems are usually combinations of?

• civil law and common law

• common law and theocratic law

• civil law and theocratic law

• common law and bureaucratic law

Hofstede and Fon Trompenaars agreed that culture differences occur in which aspect

• specific vs. diffuse relationships

• inner directed vs. outer directed

• masculinity vs. femininity

• collectivism vs. individualism

What forecasting technique is based upon the informed opinion of people in the relevant field?

• Judgemental

• Scenario

• Delphi method

• Brainstorming

A systematic application of scientific knowledge to practical tasks is known as

• culture

• legal

• technology

• demographic

Which of the following is a driver of globalization?

• Trade barriers and control on inflows of foreign direct investment

• technological advance

• weak competition

• economies of scale being exploited to the maximum

Strong economic growth is associated with all but which one of the following

• industrialization

• sustainable development

• strong capital investment

• rising standards of living

When an industry is growing slowly, competition will be......... as virtually the only way an organisation can be expand is by taking market share from competitors.

• more intense

• less intense

• milder