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Questions and Answers
Which of the following is NOT a factor that determines the level of competition in an industry?
Which of the following is NOT a factor that determines the level of competition in an industry?
- Suppliers
- Customers
- Existing players (correct)
- Potential new entrants
Which industry is an example of intense competition with low profits?
Which industry is an example of intense competition with low profits?
- Soft drinks
- Tires
- Steel (correct)
- Automobiles
In a perfectly competitive industry, which of the following is true?
In a perfectly competitive industry, which of the following is true?
- Weak competition and difficult entry for new players lead to poor long-term profitability
- Intense competition and easy entry for new players lead to poor long-term profitability (correct)
- Weak competition and difficult entry for new players lead to high long-term profitability
- Intense competition and easy entry for new players lead to high long-term profitability
What do people often perceive competition as?
What do people often perceive competition as?
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What are the five key forces that determine the level of competition in an industry?
What are the five key forces that determine the level of competition in an industry?
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