In the Context of Porter's Five Forces Model, Which of the Following

question 30

Multiple Choice

In the context of Porter's Five Forces Model, which of the following is a difference between buyer power and supplier power?

• A) Buyer power is low when customers have many choices, whereas supplier power is low when customers have fewer options.
• B) Buyer power is high when customers have few choices, whereas supplier power is high when customers have more options.
• C) Buyer power is low when customers have many options, whereas supplier power is low when customers have more choices.
• D) Buyer power is high when customers have many choices, whereas supplier power is high when customers have fewer options.

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Definitions:

Bailment

A legal relationship in which physical possession of personal property is transferred from one party to another for a specific purpose, but ownership of the property is not transferred.

Written Agreement

a formal and legally binding contract documenting the terms of a deal or agreement between two or more parties.

Personal Property

Movable property that is not fixed to one location, such as furniture, vehicles, and electronic equipment, as opposed to real property like land or buildings.

Uniform Transfers

Refers to legislation that standardizes the procedures for transferring titles or ownership of assets in a uniform manner across different jurisdictions.