Asked by
Awet Mengsteab Yohannes
on Dec 13, 2024
Verified
The factors that drive competition include
A) monopolistic competition, cross-market competition, entry, and the bargaining power of buyers and suppliers.
B) cross-market competition, entry, the bargaining power of buyers and suppliers, and substitution possibilities.
C) monopolistic competition, cross-market competition, bargaining power of buyers and suppliers, existing rivalries.
D) entry, the bargaining power of buyers and suppliers, existing rivalries, and substitution possibilities.
E) cross-market competition, entry, bargaining power of buyers and suppliers, substitution possibilities.
Bargaining Power
The capacity of one party to influence the terms and conditions of an agreement in their favor during negotiations with another party.
Substitution Possibilities
The extent to which alternative products or services can replace each other in satisfying consumers' needs or preferences.
Cross-Market Competition
Competition that occurs between businesses operating in different markets or sectors but competing for the same customer base.
- Distinguish between competitive forces that drive market dynamics.
Verified Answer
DM
Learning Objectives
- Distinguish between competitive forces that drive market dynamics.