A Company Raises Its Prices and Customers Have No Choice

question 57

Multiple Choice

A company raises its prices and customers have no choice but to pay because there are no other substitute products.Which of Michael Porter's competitive forces is this an example of?

• A) threat of new competitors
• B) bargaining power of buyers
• C) bargaining power of suppliers
• D) threat of substitute products

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Definitions:

Archetypes

Fundamental, universal symbols and themes found in the collective unconscious, as proposed by Carl Jung.

Contradictions

Statements or propositions that are in opposition to one another, implying that if one is true, the other must be false.

Case Histories

Detailed descriptions of an individual or group, especially regarding psychological or medical history and treatment, used for study or analysis.

Sexual Seduction

A theory largely related to early psychoanalytic beliefs suggesting that psychological disorders can stem from early sexual abuse or seduction.