Bubble-up, inc., is a small manufacturer of educational toys for children under age 10. it has co-existed with three other competitors in the educational toy industry for over 20 years, each of them maintaining a stable market share. there is a wide-spread rumor that mega-toy, inc., the market leader in the broad children's toy market, has decided to target educational toys. which of these statements is most likely true? a. the owners of bubble-up are unconcerned about mega-toy's entry to the market because of the resource dissimilarity between the firms. b. bubble-up's greater organizational slack will allow it to aggressively attack mega-toy. c. bubble-up's smaller size may make it more flexible in introducing innovations than mega-toy. d. competitive rivalry will not increase for bubble-up because mega-toy is not dependent on the educational toy market.

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

answer; ///after donning a gown, mask and eyewear;

answer(d) encourage cooperation by improving the chances of mutually agreeable transactions;