What Is Threat of Substitute Products or Services

question 12

Multiple Choice

What is threat of substitute products or services?

• A) The ability of buyers to affect the price they must pay for an item
• B) The suppliers' ability to influence the prices they charge for supplies (including materials, labor, and services)
• C) High when it is easy for new competitors to enter a market and low when there are significant entry barriers to joining a market
• D) High when there are many alternatives to a product or service and low when there are few alternatives from which to choose

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Definitions:

Development

is the process of change and growth over time, which can include physical, cognitive, emotional, and social aspects.

Ethical Safeguards

Measures put in place to ensure ethical standards are upheld, protecting participants in research or clients in professional settings.

Replication

In scientific research, the process of repeating a study or experiment to verify results and ensure reliability and accuracy of findings.

Transparency

The quality of being open, honest, and straightforward in communication and actions, fostering trust and understanding.