When Bargaining Power of Buyers Is ________, the Industry Is

question 20

Multiple Choice

When bargaining power of buyers is ________, the industry is ________ attractive.

• A)moderate; less
• B)low; more
• C)high; more
• D)low; less

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Definitions:

Slave Society

A society structured around the use of slaves - individuals owned by others, who control their work and freedom.

Navigation Acts

A series of laws enacted by the British Parliament in the 17th century, aimed at restricting the use of foreign shipping for trade with England (and later with its colonies), to bolster the British mercantile system.

Vice-Admiralty Courts

Courts established in British colonies to deal with maritime issues, including smuggling and violations of navigation acts, often criticized for their lack of jury trials.

Enumerated Goods

Enumerated goods are specific commodities listed in various navigation and trade laws, especially during the colonial period, which were allowed to be shipped only to specific destinations.