Which Condition Would Lead a Company's Marketers to Find a New

question 12

Multiple Choice

Which condition would lead a company's marketers to find a new market, change prices, or compete in other ways to maintain an advantage?

• A) the bargaining power of suppliers is low
• B) the bargaining power of buyers is low
• C) the threat of substitute products is high
• D) the threat of new entrants it low

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Definitions:

Economic Decisions

Choices made by individuals, households, firms, or governments regarding allocation of scarce resources to satisfy various needs and desires.

Tax Revenue

Tax Revenue refers to the income that is gained by governments through taxation, which is then used to fund public services and governmental operations.

Excess Burden

The additional cost to society beyond taxes collected resulting from inefficiencies in market outcomes due to taxation or regulations.

Tax Revenue

Funds accumulated by governments as a result of taxation.