Buyers Tend to Have Less Power When

question 93

Multiple Choice

Buyers tend to have less power when

• A) a firm has only one buyer, or a small number of buyers.
• B) the products or services being sold to buyers are standard and not differentiated.
• C) the supplies they purchase are an insignificant portion of the costs of their final products.
• D) they are not earning significant economic profits.

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Definitions:

Lack of Ability

A deficiency in the skills or competence required to perform specific tasks or jobs.

Fear of Failure

An apprehension or anxiety about not succeeding in a task or goal, which can sometimes inhibit a person's ability to take risks or pursue ambitions.

Positive Aspects

The beneficial or advantageous features of a situation, person, or object.

Unbalanced Relationship

A relationship where there is an unequal distribution of effort, emotion, or power between the parties involved.