Define the Term Industry Structure and Discuss the Ways the Internet

question 7

Essay

Define the term industry structure and discuss the ways the Internet and e-commerce have changed the five forces that characterize industry structure.

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Definitions:

Actual Price

The real price at which a transaction occurs, as opposed to an estimated or listed price.

Direct Materials

Raw materials that can be directly traced to the production of specific goods or services, reflecting in the cost of goods sold.

Materials Price Variance

The difference between the actual cost and the standard cost of materials used in production.

Standard

A recognized level of quality or attainment that is used as a benchmark for comparison.