The Bargaining Power of Suppliers Is Likely to Be High

question 16

Multiple Choice

The bargaining power of suppliers is likely to be high

• A)when the suppliers' industry is concentrated.
• B)when suppliers are supplying differentiated products.
• C)when "our" (the customer's)industry is relatively fragmented.
• D)all of the above.

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Definitions:

Economy's Price Level

The general level of prices for goods and services across an economy, indicating the purchasing power of the country's currency.

Labor Force

The total number of people employed and unemployed, available for work, and actively seeking employment.

Cost-Push Inflation

Inflation caused by an increase in the costs of production, such as higher wages or material costs, leading to decreased aggregate supply.

Union Wage

The standard wage rate established through collective bargaining by unions on behalf of their members.