Which of the Following Is True

question 192

Multiple Choice

Which of the following is true?

• A) Competitive forces are stronger in markets with high entry barriers than in those where entry barriers are low.
• B) Quality competition is an important element of the competitive process.
• C) If the production of a good is highly profitable, the development of substitute products will be discouraged.
• D) High barriers to entry are only the result of natural factors not artificial factors like government regulations.

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Definitions:

Buying Center

A group within an organization involved in the process of purchasing goods or services, typically including roles such as users, influencers, and decision-makers.

Cross-Functional Group

A team composed of members from different departments or areas of expertise working together towards a common goal.

Purchasing Committee

Refers to a group of individuals within an organization responsible for making decisions related to the procurement of goods and services.

Buying Center

A group of individuals within an organization who are involved in the decision-making process for purchasing products or services.