Market and industry are:
A) Very specific economics terms which must be rigidly adhered to
B) Are concepts which require careful consideration of their philosophical underpinning to use correctly.
C) Somewhat flexible in scope depending on what aspect of business you are considering
D) Close concepts where market is identified with broader sectors, while industries refer to specific technologies
Correct Answer:
Verified
Q24: A market's boundaries are defined by:
A)The geographies
Q25: In an industry, the profits earned by
Q26: Regarding industry concentration;
A)A high Concentration Ratio indicates
Q27: Firms in any industry can be said
Q28: Barriers to exit are:
A)The non-refundable costs of
Q30: "Consumer surplus" is:
A)The difference between the price
Q31: Industries such as pharmaceuticals earn very high
Q32: If an industry earns a return on
Q33: "The market" and "the industry" are:
A)Related but
Q34: What is the relationship between macro level
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