The Competitive Pressures from Substitute Products Tend to Be Stronger

question 121

Multiple Choice

The competitive pressures from substitute products tend to be stronger when

• A)good substitutes are readily available.
• B)there are fewer number of substitute products.
• C)substitutes have lower performance features.
• D)buyers incur high costs in switching to substitutes.
• E)substitutes are priced above the market.

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Definitions:

Political Parties

Organizations of people who share similar political goals and opinions, aiming to influence public policy by getting their candidates elected to office.

Technology

The use of scientific knowledge for practical purposes, especially in industry and in devices, methods, and materials that transform life and work.

Ward System

A system of electoral division or administrative unit, used in some cities for elections or organizational purposes.

At Large

A term used to describe a method of representation where officials are elected to serve the whole jurisdiction rather than a specific district within the jurisdiction.