Considering Michael Porter's Five Factors, the Chicken Meat Processing Industry

question 74

Multiple Choice

Considering Michael Porter's five factors, the chicken meat processing industry is characterised by:

• A)low barriers to entry.
• B)intense rivalry among competitors.
• C)availability of many substitutes.
• D)strong buyers.

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Definitions:

Fiscal Policy

Government policies regarding taxation and spending that are employed to influence economic conditions, including stimulating or restraining economic growth.

Multiplier

An economic factor that quantifies the additional effect on income or output resulting from an injection of spending.

Deflationary Gap

A situation in economics where actual production is lower than the potential output level, often resulting in unemployment and unused productive capacity.

Equilibrium GDP

The level of Gross Domestic Product where aggregate supply equals aggregate demand in an economy.