What Is Not One of Michael Porter's Five Competitive Forces

question 13

Multiple Choice

What is not one of Michael Porter's five competitive forces?

• A) New entrants
• B) Rivalry among existing firms
• C) Bargaining power of unions
• D) Bargaining power of suppliers
• E) Bargaining power of buyers

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Definitions:

Entry Barriers

Obstacles that prevent new competitors from easily entering an industry or area of business.

Economic Profit

The difference between the entirety of earnings and the aggregate of expenditures, acknowledging both visible and concealed costs.

Maximum Profit

The highest possible financial gain that a business can achieve under given market conditions and with its current resources.

Monopolist

A monopolist is a sole producer or supplier of a particular good or service in the market, having significant control over pricing and market conditions.