Buyers Are More Likely to Be Powerful Relative to the Firms

question 27

Multiple Choice

Buyers are more likely to be powerful relative to the firms from which they purchase goods and services if:

• A) there are relatively few firms supplying the industry compared to the number of buyers.
• B) the good or service purchased by the buyers represents a negligible percentage of the buyer's costs.
• C) the industry's goods or services are standardized or undifferentiated.
• D) buyers face high switching costs in changing vendors.
• E) the good or service is of significant importance to the quality or price of the buyer's offerings.

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Definitions:

Repressed Impulses

Desires or inclinations that are suppressed and remain unexpressed due to their potentially disruptive or unacceptable nature to the conscious mind.

Psychoanalytic Perspective

A theory in psychology introduced by Freud which asserts that human behavior is influenced by unconscious drives and conflicts.

Political Dissidents

Individuals who oppose or criticize the policies of their government, often facing repression or punishment.

PTSD

Post-Traumatic Stress Disorder, a mental health condition triggered by experiencing or witnessing a traumatic event, characterized by severe ongoing anxiety and distress.