Suppliers Are Powerful When the Industry Is Dominated by a Few

question 117

True/False

Suppliers are powerful when the industry is dominated by a few large companies, no satisfactory substitutes are available, the selling industry is relatively more concentrated than the purchasing industry, or switching costs are high.

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Definitions:

Paycheck

A check issued to an employee in payment for their work.

Apostrophes

Punctuation marks used to indicate either possession (e.g., Harry’s book) or the omission of letters or numbers (e.g., can’t for cannot).

Bicycle

A bicycle is a human-powered, pedal-driven vehicle with two wheels attached to a frame, one behind the other.

Fair Die

A die that has an equal probability of landing on any of its faces when thrown.