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:

Rental Price of Capital

The cost of using capital goods for a specific period, reflecting the opportunity cost of utilizing these assets in production.

Mycenaean Fortified Palace

Large-scale structures from the Mycenaean civilization (c. 1600–1100 BCE) that served as administrative, economic, and military centers, often surrounded by massive walls.

Tiryns

An ancient city in the Peloponnese, Greece, known for its Cyclopean walls and as one of the major centers of Mycenaean culture.

Minoan

The prehistoric art of Crete, named after the legendary King Minos of Knossos.