Chapter 11: 3rd Attempt Quiz Questions

"People of the same trade seldom meet together, even for merriment and diversion, but their conversation often ends in a conspiracy against the public." This quote from Adam Smith is referring to which of the following business relationship terms?

Collusion

____ is the strategy that focuses on a firm engaging in rapid learning and then expanding overseas.

Contender strategy

Which combination of resource similarity and market commonality results in the least intense competition

Low resource similarity, high market commonality

Laws that make it illegal for an exporter to sell goods below cost abroad with the intent to raise prices after eliminating local rivals are called _____ laws.

antidumping

The price leader's _____ is defined as sufficient resources possessed to deter and combat defection.

capacity to punish

The percentage of total industry sales accounted for by the top firms is called _____.

concentration ratio

Blue ocean strategy focuses on____.

developing new markets

Dumping is defined as a(n) _____.

exporter selling below cost abroad

Mutual forbearance is a type of _____.

tacit collusion

If globalization pressures for a firm are relatively low, and if the firm has skills and assets that are transferable overseas, which of the following is the best strategy for the firm to use?

Extender strategy

The American antitrust policy is considered to be ____.

pro-consumer