According to Michael Porter, There Are Five Determinants of Competition

question 20

Multiple Choice

According to Michael Porter, there are five determinants of competition. An example of _____ is when competitors seek to expand their share of the market.

• A) threat of entry
• B) rivalry between existing competitors
• C) pressure from substitute products
• D) bargaining power of buyers
• E) bargaining power of suppliers

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Definitions:

Population Parameter

A numerical value that summarizes or describes a characteristic of an entire population.

Confidence Interval

Confidence interval is a range of values, derived from sample statistics, that is likely to contain the value of an unknown population parameter with a certain level of confidence.

Population Standard Deviation

Population standard deviation is a measure of the dispersion or variation in a set of values from a population, calculating how spread out the values are from the population mean.

Population Mean

The average value of all elements in a population, where the population represents the entire set of interest.