The Introduction of Uber and Lyft as Alternatives to Traditional

question 79

Multiple Choice

The introduction of Uber and Lyft as alternatives to traditional taxi services is an example of which of Porter's five competitive forces?

• A) Potential new entrants
• B) Bargaining power of suppliers
• C) Threat of substitute products
• D) Bargaining power of customers
• E) Rivalry among competitors

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Definitions:

Mental Abilities

Mental abilities are the cognitive functions that encompass reasoning, problem-solving, planning, abstract thinking, complex idea comprehension, learning quickly, and learning from experience.

Babbling

The production of repetitive syllables by infants, an early stage of language development.

Schemes

Cognitive structures in developmental psychology that help individuals organize and interpret information.

Cognitive Development

The process of growth and change in intellectual/mental abilities such as thinking, reasoning, and understanding throughout the lifespan.