The Bargaining Power of ________ Is One of the Five

question 35

Multiple Choice

The bargaining power of ________ is one of the five competitive forces in Porter's five forces model.

• A) investors
• B) competitors
• C) employees
• D) customers

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Definitions:

Comparative Advantage

The ability of a country, company, or individual to produce a good or service at a lower opportunity cost than competitors.

Autarky

An economic policy or situation in which a country is self-sufficient and does not engage in international trade.

Cattle

Large domesticated bovines raised for their meat, milk, or hides, but in economic context, it broadly relates to agricultural commodities.

Opportunity Cost

The expense incurred by not selecting the second-best choice while deciding or preferring one option to another.