What Is Rivalry Among Existing Competitors

question 21

Multiple Choice

What is rivalry among existing competitors?

• A) The ability of buyers to affect the price they must pay for an item
• B) The suppliers' ability to influence the prices they charge for supplies (including materials, labor, and services)
• C) High when it is easy for new competitors to enter a market and low when there are significant entry barriers to joining a market
• D) High when competition is fierce in a market and low when competitors are more complacent

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Definitions:

Conditioned Association

The process by which two stimuli or events are linked together in the mind to produce a learned response.

Neutral

Not favoring any side in a dispute, contest, or situation; unbiased or impartial.

Unconditioned Stimulus

A stimulus that naturally triggers a response without any need for prior learning.

Stimulus Discrimination

The ability to differentiate between a conditioned stimulus and other stimuli that have not been paired with an unconditioned stimulus.