Core Features of the Five Forces Model Remain Remarkably Insightful

question 64

True/False

Core features of the five forces model remain remarkably insightful when analyzing old industries but not new phenomena, such as e-commerce.

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Definitions:

Services Trade Balance

The difference between exports and imports of services of a country, reflecting whether a country is a net provider or consumer of services internationally.

Adam Smith

An 18th-century economist known as the father of modern economics, famous for his theories on free markets and the 'invisible hand'.

International Trade

The exchange of goods and services across international boundaries.

Hourly Wages

Hourly wages are the amount of money workers are paid for each hour of work, often used to compensate employees in various job types for their labor.