AGEC 599 Exam 1 questions with
verified answers passed
1. The theories of monopoly and perfect competition are the two extremes in the spectrum of
the number of competition is an industry: - correct answer ✔✔True
1. The SWOT analysis allows the scanning, monitoring, and evaluating of changes and trends in
a firm's macro environment: - correct answer ✔✔False
In a firm's external environment, political trends primarily capture population characteristics
related to age, gender, family size, ethnicity, sexual orientation, religion, and socioeconomic
class: - correct answer ✔✔False
A firm like Monsanto has competed by developing specific knowledge for the biotech seeds. We
can study Monsanto by using the resource base view of the firm: - correct answer ✔✔True
Which of the following statements is not true about the five forces in Porter's competitive
analysis model? - correct answer ✔✔- Competition in the model is described as the tug-of-war
between the five forces to capture as much as possible of the economic value created in an
industry
A firm's core competency is unique and embedded deep within a firm. It is intended to deliver
more value or lower costs to its customers. We often use core competency as a measurement of
the firm's ability to carry out its strategy: - correct answer ✔✔True
1. A key feature of an oligopoly is that the competing firms: - correct answer ✔✔Are
interdependent
verified answers passed
1. The theories of monopoly and perfect competition are the two extremes in the spectrum of
the number of competition is an industry: - correct answer ✔✔True
1. The SWOT analysis allows the scanning, monitoring, and evaluating of changes and trends in
a firm's macro environment: - correct answer ✔✔False
In a firm's external environment, political trends primarily capture population characteristics
related to age, gender, family size, ethnicity, sexual orientation, religion, and socioeconomic
class: - correct answer ✔✔False
A firm like Monsanto has competed by developing specific knowledge for the biotech seeds. We
can study Monsanto by using the resource base view of the firm: - correct answer ✔✔True
Which of the following statements is not true about the five forces in Porter's competitive
analysis model? - correct answer ✔✔- Competition in the model is described as the tug-of-war
between the five forces to capture as much as possible of the economic value created in an
industry
A firm's core competency is unique and embedded deep within a firm. It is intended to deliver
more value or lower costs to its customers. We often use core competency as a measurement of
the firm's ability to carry out its strategy: - correct answer ✔✔True
1. A key feature of an oligopoly is that the competing firms: - correct answer ✔✔Are
interdependent
