Industry Dynamism Refers To

question 49

Multiple Choice

Industry dynamism refers to:

• A) the gradual erosion of a company's customer base over time.
• B) shifts in product profitability.
• C) a rapidly changing industry environment.
• D) increasing per-unit costs.
• E) a company's difficulty in changing its strategies and structure.

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Definitions:

Supply Shock

An unexpected event that suddenly changes the supply of a product or commodity, leading to swift price changes and potentially impacting an economy.

Short-Run Aggregate Supply Curve

A curve showing the relationship between the total supply of goods and services and the price level for output in the short run.

Energy Prices

The cost of consumable energy sources, such as oil, natural gas, coal, and electricity, which can fluctuate based on market demand, supply conditions, geopolitical events, and other factors.

Productive Resource

A Productive Resource is any input used in the production of goods or services, including labor, capital, and natural resources.