What is the difference between monopolistic and oligopolistic competition?

A.

Most of the competition in advanced free-market economies is oligopolistic, compared to monopolistic competition.

B.

In an oligopoly, customers have as many choices as in monopolistic competition.

C.

In monopolistic competition, the competition in a market is quite small compared with oligopolistic competition.

D.

Monopolistic competition has numerous sellers who offer products that can be distinguished from competing products, whereas in an oligopoly, the number of competitors in the market is quite small.

E.

In monopolistic competition, customers have limited choices, whereas in oligopolistic competition, there are ample customer choices.

Which theory argues that the effort employees put forth depends on three aspects: their beliefs about their own performance potential, their beliefs regarding the rewards that the firm will give in response to that performance, and the appeal of those rewards relative to their personal goals?

A.

Theory X

B.

Expectancy theory

C.

Job enrichment

D.

Equity theory

E.

Goal-setting theory

A manufacturing company is in the market for new machinery for its facilities. The company is looking for more efficient equipment that will last a long time. The manufacturing company is in the market for________.

A.

shopping products

B.

capital items

C.

specialty products

D.

expense items

E.

convenience products

To be as effective as possible, motivational rewards should have which of the following characteristics?

A.

Expensive, equal, and individual

B.

Limited, flexible, and individual

C.

Explained, automatic, and limited

D.

Equitable, flexible, and individual

E.

Equitable, predetermined, and anticipated