Why Are Suppliers in a Competitive Upstream Market Said to Have

question 1

Multiple Choice

Why are suppliers in a competitive upstream market said to have "indirect power"?

• A)They can sell their services to the lowest bidder
• B)They are always concentrated
• C)Their customers are always locked into relationships with them
• D)The price they charge never depends on supply and demand in the upstream market
• E)The can sell their services to the highest bidder

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Definitions:

Nation States

Political entities consisting of a clearly defined territory and population that is politically organized under a sovereign government.

International Organizations

Entities established by treaties between governments for purposes of conducting activities and fostering cooperation among member countries across borders.

International Agreements

Formal arrangements between two or more countries governed by international law, which can relate to trade, peace, cooperation, or other mutual interests.

Neoliberal Globalization

Refers to the process of accelerating economic integration, market deregulation, and diminishing state intervention across countries, pushed by neoliberal policies.