Economics of Strategy Quiz

What years do 1840, 1910, and 2009 represent in the business conditions discussed?

• 1840, 1910, 2009

• Widely Disparate, Similar, Same

• Different Eras, Same Era, Future Era

• Past, Present, Future

What was the dominant mode of long-distance communication in 1840?

• Postal Service

• Telephone

• Telegraph

• Email

Which technology made high volume low-cost manufacture of goods possible in 1910?

• Railroads

• Mechanization

• CAD/CAM

• Telegraph

What allowed firms to expand their markets, product lines, and production scale in 1910?

• Improved Communication

• Financial Innovation

• Expanded Infrastructure

• Government Support

What has made low-cost tailor-made production feasible today?

• Vertical Integration

• Standardization

• Mass Production

• New Technologies

Which area has seen traditional regulation relaxed in recent times?

• Discrimination

• Banking

• Securities Markets

• Workplace Safety

What has enabled global markets for products and services today?

• Traditional Markets

• Instantaneous Transmission

• Sophisticated Communication

• Local Production

What has slowed economic and entrepreneurial activity according to the text?

• Financial Innovation

• Liquidity Crisis of 2008

• Production Technology

• Globalization

What has made large vertically integrated firms decline in recent times?

• Mergers and Acquisitions

• Diversification

• Alliances and Joint Ventures

• Matrix Structures

What has allowed faster growth of firms and the ability of new entrants to challenge incumbents?

• Financial Innovation

• Rising Demand

• Economies of Scale

• Market Size Increase