If Many Factors Prevent New Companies from Entering an Industry,the:
If many factors prevent new companies from entering an industry,the:
A) threat of new entrants is more serious.
B) threat of competitive rivalry is high.
C) threat to established firms is less serious.
D) new companies can easily compete with the established ones.
E) industry is said to have just a few barriers to entry.
Which of the following is an example of a potential substitute product?
A) Hand sanitizer for soaps
B) Ink cartridges for printers
C) Mops for detergent
D) iTunes for iPods
E) Furniture for apartments
Organizations must acquire a variety of resources in order to produce a product or service of value.These resources may include materials,equipment,financing,or even employees.The sources that provide these various resources are referred to as _____.
A) warehouse clubs
_____ are fixed costs buyers face if they change suppliers.
A) Changing costs
B) Switching costs
C) Renewable costs
D) Exchange costs
E) Sunk costs