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Sarah Works for an Architectural Firm

question 60

Multiple Choice

Sarah works for an architectural firm. The partners in the firm have always drawn the plans for projects by hand. While Sarah learned how to draw by hand in college, she also became skilled on computer programs that permitted her to create designs in three dimensions. She plans to demonstrate the effectiveness of such programs to the firm's partners. The computer program she will recommend to the partners is:


Definitions:

Substitute Products

Goods or services that can be used in place of each other, offering consumers alternatives in their purchasing choices.

Degree of Rivalry

The extent of competition between firms in the same industry, influencing market dynamics and profitability.

Threat of Substitute Products

The potential risk that consumers might replace a company's product with similar goods or services from another provider.

Degree of External Competition

The extent of competition that a business faces from other companies within the same industry or market.

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