Attractive Industries Are Those Where Firms ________

question 49

Multiple Choice

Attractive industries are those where firms ________.

• A)faced high rivalry and inefficiency
• B)have developed a product-oriented view of the industry
• C)have created power over buyers and suppliers
• D)created easy entrance for new competitors

---

Definitions:

Tariff

A tax imposed on imported goods, often to protect domestic industries or to generate revenue.

Producer Surplus

The difference between the amount producers are willing and able to sell a good for and the actual amount they do sell it for, representing their profit.

Free Trade

The unrestricted exchange of goods and services between countries without the imposition of tariffs, quotas, or other trade barriers.

Domestic

Relating to or occurring within a particular country; not foreign or international.