Show more Question 7 Which group has the ability to influence business behavior? Select one: a. Consumers. b. Community activists. c. Workers. d. All of the above. Question 8 Firms that have market power: Select one: a. behave competitively. b. have some control over the market price. c. create a more equitable distribution of income. d. All of the above. Question 9 The social contract that a business has with society: Select one: a. Is legally binding. b. Is required by the government. c. Suggests that businesses have a moral obligation to benefit other stakeholder groups. d. All of the above. Question 10 Monopoly violates which assumptions of the competitive market model? Select one: a. That consumers have choice. b. That firms have little or no pricing power. c. That entry by new firms is relatively easy. d. All of the above. Show less
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