Question 1

_____ refers to price setting at a level higher than the competitive level by monopolists.

Accepted Answer

A)  Collusive price setting 
B)  Predatory pricing 
C)  Dumping 
D)  Mark-up pricing 
A)  Collusive price setting 
B)  Predatory pricing 
C)  Dumping 
D)  Mark-up pricing

Question 2

A _____ antirust policy would protect established firms that have already invested and nurtured an industry from new entrants.

Accepted Answer

A)  pro-imitability 
B)  pro-incumbent 
C)  pro-competition 
D)  pro-consumer 
A)  pro-imitability 
B)  pro-incumbent 
C)  pro-competition 
D)  pro-consumer

Question 3

A price leader is a firm that ____ in the industry.

Accepted Answer

A)  sets the highest prices and has a low market share 
B)  sets the lowest prices 
C)  sets acceptable prices and has a dominant market share 
D)  sets the globally consistent price 
A)  sets the highest prices and has a low market share 
B)  sets the lowest prices 
C)  sets acceptable prices and has a dominant market share 
D)  sets the globally consistent price

Question 4

The price leader's _____ is defined as sufficient resources possessed to deter and combat defection.

Accepted Answer

A)  capacity to collude 
B)  capacity to imitate 
C)  capacity to punish 
D)  capacity to compete 
A)  capacity to collude 
B)  capacity to imitate 
C)  capacity to punish 
D)  capacity to compete

Question 5

Antitrust policies aim to balance efficiency and fairness in trade.

Accepted Answer

A) True 
 B)False

Question 6

Mutual forbearance refers to retaliatory attacks on a competitor's other markets if this competitor attacks a firm's original market.

Accepted Answer

A) True 
 B)False

Question 7

Mutual forbearance is a type of _____.

Accepted Answer

A)  cross-market retaliation 
B)  multimarket competition 
C)  explicit collusion 
D)  tacit collusion 
A)  cross-market retaliation 
B)  multimarket competition 
C)  explicit collusion 
D)  tacit collusion

Question 8

The percentage of total industry sales accounted for by the top firms is called:

Accepted Answer

A)  commonality ratio. 
B)  collusion index. 
C)  concentration ratio. 
D)  barriers to entry. 
A)  commonality ratio. 
B)  collusion index. 
C)  concentration ratio. 
D)  barriers to entry.

Question 9

The process of anticipating rivals' actions in order to both revise a firm's plan and prepare to deal with rivals' response is called _____.

Accepted Answer

A)  mutual forbearance 
B)  multimarket competition 
C)  competitor analysis 
D)  prisoners' dilemma 
A)  mutual forbearance 
B)  multimarket competition 
C)  competitor analysis 
D)  prisoners' dilemma

Question 10

The antitrust policies in the United States make it difficult for incumbents to raise entry barriers for new entrants.

Accepted Answer

A) True 
 B)False

Question 11

"People of the same trade seldom meet together,even for merriment and diversion,but their conversation often ends in a conspiracy against the public." This quote from Adam Smith is referring to which of the following business relationship terms?

Accepted Answer

A)  Combination 
B)  Cooperation 
C)  Collusion 
D)  Collaboration 
A)  Combination 
B)  Cooperation 
C)  Collusion 
D)  Collaboration

Question 12

Cartel is an output- and price-fixing entity involving multiple competitors.

Accepted Answer

A) True 
 B)False

Question 13

What is resource similarity? How does it affect firm rivalries?

Accepted Answer

Resource similarity is defined as "the e

Question 14

_____ determines the institutional mix of competition and cooperation that gives rise to the market system and also seeks to balance efficiency and fairness.

Accepted Answer

A)  Competition policy 
B)  Antitrust policy 
C)  Mutual forbearance 
D)  Fairness policy 
A)  Competition policy 
B)  Antitrust policy 
C)  Mutual forbearance 
D)  Fairness policy

Question 15

Formal institutions governing domestic competition are broadly guided by competition policy.

Accepted Answer

A) True 
 B)False

Question 16

The American antitrust policy is pro-incumbent and pro-producer.

Accepted Answer

A) True 
 B)False

Question 17

Combining resource similarity and market commonality helps yield a framework of competitor analysis for any pair of rivals.

Accepted Answer

A) True 
 B)False

Question 18

An industry without a price leader makes it easier for firms in that industry to form collusions.

Accepted Answer

A) True 
 B)False

Question 19

Under what conditions would a firm adopt a contender strategy?

Accepted Answer

The contender strategy is focused on a f

Question 20

_____ is designed to combat monopolies and cartels.

Accepted Answer

A)  Competition policy 
B)  Predatory pricing 
C)  Cross-market retaliation 
D)  Antitrust policy 
A)  Competition policy 
B)  Predatory pricing 
C)  Cross-market retaliation 
D)  Antitrust policy

_____ refers to price setting at a level higher than the competitive level by monopolists.

A _____ antirust policy would protect established firms that have already invested and nurtured an industry from new entrants.

A price leader is a firm that ____ in the industry.

The price leader's _____ is defined as sufficient resources possessed to deter and combat defection.

Antitrust policies aim to balance efficiency and fairness in trade.

Mutual forbearance refers to retaliatory attacks on a competitor's other markets if this competitor attacks a firm's original market.

Mutual forbearance is a type of _____.

The percentage of total industry sales accounted for by the top firms is called:

The process of anticipating rivals' actions in order to both revise a firm's plan and prepare to deal with rivals' response is called _____.

The antitrust policies in the United States make it difficult for incumbents to raise entry barriers for new entrants.

"People of the same trade seldom meet together,even for merriment and diversion,but their conversation often ends in a conspiracy against the public." This quote from Adam Smith is referring to which of the following business relationship terms?

Cartel is an output- and price-fixing entity involving multiple competitors.

What is resource similarity? How does it affect firm rivalries?

_____ determines the institutional mix of competition and cooperation that gives rise to the market system and also seeks to balance efficiency and fairness.

Formal institutions governing domestic competition are broadly guided by competition policy.

The American antitrust policy is pro-incumbent and pro-producer.

Combining resource similarity and market commonality helps yield a framework of competitor analysis for any pair of rivals.

An industry without a price leader makes it easier for firms in that industry to form collusions.

Under what conditions would a firm adopt a contender strategy?

_____ is designed to combat monopolies and cartels.

Globalizing Business

Understanding Formal Institutions: Politics, Laws, and Economics

Emphasizing Informal Institutions: Cultures, Ethics, and Norms

Leveraging Resources and Capabilities

Trading Internationally

Investing Abroad Directly

Dealing with Foreign Exchange

Capitalizing on Global and Regional Integration

Growing and Internationalizing the Entrepreneurial Firm

Entering Foreign Markets

Making Alliances and Acquisitions Work

Strategizing,Structuring,and Learning around the World

Competing on Marketing and Supply Chain Management

Managing Human Resources Globally

Financing and Governing the Corporation Globally

Managing Corporate Social Responsibility Globally

Filters

Exam 11: Managing Global Competitive Dynamics

_____ refers to price setting at a level higher than the competitive level by monopolists.

A _____ antirust policy would protect established firms that have already invested and nurtured an industry from new entrants.

A price leader is a firm that ____ in the industry.

The price leader's _____ is defined as sufficient resources possessed to deter and combat defection.

Antitrust policies aim to balance efficiency and fairness in trade.

Mutual forbearance refers to retaliatory attacks on a competitor's other markets if this competitor attacks a firm's original market.

Mutual forbearance is a type of _____.

The percentage of total industry sales accounted for by the top firms is called:

The process of anticipating rivals' actions in order to both revise a firm's plan and prepare to deal with rivals' response is called _____.

The antitrust policies in the United States make it difficult for incumbents to raise entry barriers for new entrants.

"People of the same trade seldom meet together,even for merriment and diversion,but their conversation often ends in a conspiracy against the public." This quote from Adam Smith is referring to which of the following business relationship terms?

Cartel is an output- and price-fixing entity involving multiple competitors.

What is resource similarity? How does it affect firm rivalries?

_____ determines the institutional mix of competition and cooperation that gives rise to the market system and also seeks to balance efficiency and fairness.

Formal institutions governing domestic competition are broadly guided by competition policy.

The American antitrust policy is pro-incumbent and pro-producer.

Combining resource similarity and market commonality helps yield a framework of competitor analysis for any pair of rivals.

An industry without a price leader makes it easier for firms in that industry to form collusions.

Under what conditions would a firm adopt a contender strategy?

_____ is designed to combat monopolies and cartels.

Globalizing Business

Understanding Formal Institutions: Politics, Laws, and Economics

Emphasizing Informal Institutions: Cultures, Ethics, and Norms

Leveraging Resources and Capabilities

Trading Internationally

Investing Abroad Directly

Dealing with Foreign Exchange

Capitalizing on Global and Regional Integration

Growing and Internationalizing the Entrepreneurial Firm

Entering Foreign Markets

Making Alliances and Acquisitions Work

Strategizing,Structuring,and Learning around the World

Competing on Marketing and Supply Chain Management

Managing Human Resources Globally

Financing and Governing the Corporation Globally

Managing Corporate Social Responsibility Globally

Filters