Question 1 1 points Save Ford Motor Company sells its cars and trucks in a(n) ou
ID: 2708862 • Letter: Q
Question
Question 1
1 points
Ford Motor Company sells its cars and trucks in a(n)
output market.
input market.
supply market.
selling market.
open market.
Question 2
1 points
Which of the following seems the most likely pricing approach for a monopoly?
Charge customers whatever you please.
Give customers a real bargain on price.
Charge a price that will not cause consumer demand to drop.
Undercut the prices of the competition.
Concentrate on quality and service, and not on price.
Question 3
1 points
Who is MOST closely associated with the Production Era?
Andrew Carnegie
Andrew Mellon
John D. Rockefeller
J.P. Morgan
Henry Ford
Question 4
1 points
An individual who accepts the risks and opportunities entailed by creating and operating a new business is a(n) ___________.
director
proprietor
entrepreneur
partner
officer
Question 5
1 points
In a(n) _________ market, firms supply goods and services in response to household demand.
capital
input
virtual
output
private
Question 1
1 points
Ford Motor Company sells its cars and trucks in a(n)
output market.
input market.
supply market.
selling market.
open market.
Explanation / Answer
1. Open Market
2. Charge customers whatever you please.
3. Henry Ford
4. entrepreneur
5. virtual
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