Which of the Following Is Not Included as a Major

question 12

Multiple Choice

Which of the following is not included as a major force in Michael Porter's five-forces model of industry competition?

• A) Existing competitors
• B) Suppliers
• C) Potential competitors
• D) Unions

---

Definitions:

Input

Resources such as labor, materials, and energy that are used in the production process of goods or services.

Production Function

A mathematical representation that describes the relationship between inputs used in production and the resulting output.

Output

The aggregate sum of products or services generated by a business, sector, or economic system.

Cost

The value of everything a company gives up to produce goods or services, including materials, labor, and overhead expenses.