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Mastering Competitive Forces

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Questions and Answers

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?

Soft drinks

Tires

Steel (correct)

Automobiles

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?

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What are the five key forces that determine the level of competition in an industry?

<p>Customers, suppliers, potential new entrants, substitute products, and existing players</p> Signup and view all the answers

Mastering Competitive Forces

Choose a study mode

Podcast

Questions and Answers

Which of the following is NOT a factor that determines the level of competition in an industry?

Which industry is an example of intense competition with low profits?

In a perfectly competitive industry, which of the following is true?

What do people often perceive competition as?

What are the five key forces that determine the level of competition in an industry?

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