Some Industries' Competition Is Much More Intense Than Others

question 166

Multiple Choice

Some industries' competition is much more intense than others.Retail grocery stores such as Kroger, Safeway, and Albertson's in the United States experience fierce competition and offer similar marketing campaigns to compete.What is this an example of in terms of Porter's Five Forces?

• A)rivalry among new entrants
• B)rivalry among existing competitors
• C)threat of substitute products or services
• D)buyer power

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Definitions:

World's Output

The total production of goods and services by all countries around the globe over a specific time period.

Rules of The Game

Informal and formal institutions, norms, and conventions that shape interactions and decision-making in economic, social, and political environments.

Institutional Elements

Components of a society's system, including laws, regulations, norms, and conventions that shape economic and social interactions.

Property Rights

This term denotes the legal rights to own, use, and dispose of assets. It's a foundational element of market economies, affecting the allocation and use of resources.