IT ELECT - PRIORITY

Question 1

The Board is a governing body that typically meets at regular intervals to set policies for corporate management and oversight.

Answer 1

Policies

Question 2

The theory of the firm is the microeconomics concepts founded in neoclassical economics that states that a firm exists and make decisions to maximize profits.

Answer 2

TRUE

Question 3

Oligopoly is a market situation in which there are few firms selling homogeneous or differentiated products.

Answer 3

homogeneous

Question 4

According to wililiam J. Stanton product life cycle is the explanation of the product form its birth to death as a product exist in different stages in different competitive environments.

Answer 4

environments

Question 5

The five forces model was develop by Michael E. Porter to help companies assess the nature of an industry’s competitiveness and develop corporate strategies accordingly.

Answer 5

TRUE