Banks have a lot of competition locally in addition to competing with online banks. This concept applies to ____________.
A)Bargaining power of buyers
B)Bargaining power of suppliers
C)Threat of entry of new competitors
D)Threat of substitute products or services

Question

Quizplus · Accepted Answer

Bargaining power of buyers refers to the ability of customers to negotiate prices and terms with businesses. In this case, banks have a lot of competition locally, which means that customers have more options to choose from and can negotiate better deals.

Banks Have a Lot of Competition Locally in Addition to Competing