
IBM C5

Quiz
•
English
•
University
•
Easy
Nhi Nguyễn
Used 4+ times
FREE Resource
81 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A firm's strategy can be defined as the actions that managers take to attain the goals of the firm.
True
False
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The preeminent strategic goal for most firms is to maximize the value of the firm for its owners.
True
False
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Profit growth is measured by the percentage increase in net profits over time.
True
False
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The amount of value a firm creates is measured by the difference between its costs of production and the price that it charges for its products.
True
False
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The customer is able to garner the benefit of the consumer surplus because one firm is competing with other firms for the customer's business, so the firm must charge a lower price than it could if it were a monopoly supplier.
True
False
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
According to Porter, the way to create superior value is to drive down the cost structure of the business and/or differentiate the product in some way so that consumers value it more.
True
False
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Diminishing returns imply that when a firm already has significant value built into its product offering, increasing value by a relatively small amount requires significant additional costs.
True
False
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