Week 2 Recap Quiz

What is the key difference between shareholders and stakeholders?

• Shareholders own stock, while stakeholders include anyone affected by the company

• Shareholders are always company employees, while stakeholders are external

• Stakeholders must own part of the company

Which market structure is characterized by a single seller with no close substitutes?

• Monopoly

• Oligopoly

• Perfect competition

• Monopolistic competition

Apple and Samsung dominate the smartphone industry with significant market power. What type of market structure does this represent

• Monopoly

• Oligopoly

• Perfect competition

• Monopolistic competition

In which market structure do companies sell identical products with no control over pricing?

• Monopolistic competition

• Perfect competition

• Oligopoly

• Monopoly

What does a company need to maintain a long-term competitive advantage?

• Government subsidies

• A unique product, low costs, or superior customer service

• Constant price increases

• Ignoring competitors

Which of the following is an example of an opportunity in a SWOT analysis?

• High employee turnover

• A new technology that can improve production efficiency

• Poor brand reputation

• A weak supply chain

What is a possible threat for a company in a SWOT analysis?

• Expanding into new markets

• Increasing production efficiency

• New government regulations that increase costs

• Strong brand reputation

If a business has outdated technology and struggles to keep up with competitors, this would be classified as a:

• Strength

• Weakness

• Opportunity

• Threat

What are students required to do for Assessment 1?

• Develop a new product or service for an existing company

• Start their own business from scratch

• Write a report on past product launches

• Compare two companies

When is the assessment due?

• February 28

• March 3

• February 21

• March 15