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Business Threats and Rivalry Quiz

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Questions and Answers

What does a high level of capital requirements do to potential new entrants?

Makes it more difficult for new entrants to join (correct)

Increases access to distribution channels

Attracts more new entrants

Reduces government regulation

What factor can intensify rivalry among existing firms in an industry?

Limited number of competing firms

Low fixed costs

Homogeneous products or services (correct)

Slow industry growth rate

How can high switching costs impact buyer bargaining power?

Increase buyer bargaining power

Create a monopoly

Decrease buyer bargaining power (correct)

Have no effect on buyer bargaining power

Which of the following is a characteristic that can deter potential new entrants from joining an industry?

Low cost of product differentiation Signup and view all the answers

In what way can the presence of substitute products impact an industry?

Pose a threat to the industry Signup and view all the answers

What factor can contribute to an increase in supplier availability and reduce supplier bargaining power?

Limited number of alternative suppliers Signup and view all the answers

What does buyer bargaining power refer to in the context of business operations?

The ability of buyers to negotiate lower prices or better terms from businesses. Signup and view all the answers

In the context of business competition, what do potential new entrants represent?

New players seeking to enter the market and compete. Signup and view all the answers

What does rivalry among existing firms indicate in the business environment?

Competition and conflict among businesses in the industry. Signup and view all the answers

How do suppliers contribute to a business operation?

By providing goods or services needed by the business. Signup and view all the answers

What are market entry barriers designed to do in relation to new businesses entering a market?

Impede or restrict new businesses from entering and competing effectively. Signup and view all the answers

What is the term used to describe the act or process of trying to get or win something in an industry environment?

Competition Signup and view all the answers

Which factor can reduce the threat of a buyer's bargaining power according to the text?

High switching costs for the buyer Signup and view all the answers

What does the text define as a 'new entrant' in an industry?

A new entity entering the industry Signup and view all the answers

Which of the following does NOT contribute to reducing a buyer's bargaining power?

Buyer purchasing small portions of the seller's product Signup and view all the answers

What is one of the five forces competing within an industry environment as mentioned in the text?

Potential new entrants Signup and view all the answers

In the context of industry competition, what does 'rivalry among existing firms' refer to?

Competitive interactions between firms in the industry Signup and view all the answers