In the Chapter 5 Strategic Focus, Companies Such as Amazon

question 19

True/False

In the Chapter 5 Strategic Focus, companies such as Amazon, Oracle, HP and Dell competing in the cloud computing market have been able to develop sustainable competitive advantages.

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Definitions:

Completely Inelastic

A situation where the quantity demanded or supplied does not change regardless of changes in price.

Infinitely Elastic

Describes a market situation in which the quantity demanded or supplied changes by an unlimited amount in response to any change in price, indicative of perfect competition.

Elastic

A term used in economics to describe a situation in which the supply or demand for a good or service is sensitive to changes in price.

Demand Curve

A graph showing the relationship between the price of a good and the quantity of that good consumers are willing and able to purchase, ceteris paribus.