In Which of the Following Circumstances Are Competitive Pressures Associated

question 45

Multiple Choice

In which of the following circumstances are competitive pressures associated with the bargaining power of buyers relatively moderate-to-weak?

• A)The supply of soccer balls increases during the World Cup season.
• B)Consumers can easily compare different smartphones' features over the Internet before buying them.
• C)Apple designs and manufactures its chip processors rather than buying them from Intel.
• D)Dairy products are usually standardized and therefore differentiated only by price.
• E)Buyers tend to delay purchases of luxury goods, such as home entertainment systems, until they are on sale.

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Definitions:

Caveat Emptor

A legal principle that the buyer assumes the risk of quality in a purchase unless protected by warranty.

Sale of Goods Act

Legislation governing the sale of goods, including provisions on the formation of contracts, descriptions of goods, quality, and return policies.

Organically Grown

Refers to food produced without the use of synthetic pesticides, fertilizers, and other non-natural methods.

Sale of Goods Act

Legislation governing the sale of goods that outlines the rights and obligations of the buyer and seller.