Examlex
Porter's five forces model is used to assess ________.
Total Utility
The overall level of satisfaction or fulfillment a consumer receives from consuming a specific quantity of a good or service.
Income Effect
The change in an individual's or economy's income and how that change will impact the quantity demanded of a good or service.
Purchasing Power
The value of a currency expressed in terms of the amount of goods or services that one unit of money can buy.
Substitution Effect
The change in consumption patterns due to a change in the relative prices of goods, leading consumers to substitute one good for another.
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