Test Bank For Economics of Strategy 7th Editio By David Dranove (Complete And Verified Study material) (125pages) LEARNEXAMS

1. Which of the following did not contribute to the high transaction related risks for U.S. potato sales in 1840? a) Infrequency of transactions b) Changing transaction partners c) Lack of availability of sales and prices for comparable goods d) Competition from European merchants e) Geographic distance between buyers and sellers Ans: d Heading: The World in 1840 – Doing Business in 1840 Level: Medium 2. What was a key contribution to the dominance of the family-run small business in 1840? a) Factories b) Infrastructure c) Raw Materials d) Management e) Laws Ans: b Heading: The World in 1840 – Conditions of Business in 1840: Life without a Modern Infrastructure Level: Easy 3. Matchmakers between manufacturers and sellers are called: a) Agents b) Factors c) Brokers d) Merchants e) None of the Above Ans: c Heading