An Impact That the Changing Industry Boundaries Have Had Is

question 28

Multiple Choice

An impact that the changing industry boundaries have had is that:

• A) owners of companies can now define boundaries.
• B) there is an increase in the number of competitors within an industry.
• C) technological changes do not affect companies anymore.
• D) the pattern of customer needs does not affect companies anymore.
• E) the number of product substitutes available for customers has reduced.

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Definitions:

AC

Short for Air Conditioning, a system for controlling the humidity, ventilation, and temperature in a building or vehicle.

Price Effect

The impact on consumer behavior and purchase decisions resulting from a change in the price of a good or service.

Quantity Effect

The variation in overall income derived from altering the amount of a product sold, while keeping its price stable.

Marginal Revenue

The increase in revenue that results from the sale of one additional unit of a product or service.