According to Michael Porter, There Are Five Determinants of Competition

question 8

Multiple Choice

According to Michael Porter, there are five determinants of competition. An example of _____ is when the availability limits the prices that can be charged to customers.

• 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:

p < .001

p < .001 indicates that the probability of the observed data, or something more extreme, assuming the null hypothesis is true, is less than 0.1%, which is considered highly statistically significant.

Within-group Variability

The measure of how much individual observations in a single group differ from each other in a dataset.

Null Hypothesis

A statement in statistics that assumes there is no significant difference or effect in a given situation, until evidence proves otherwise.

Sample Size

The number of subjects included in a study, influencing the study's ability to reliably detect effects or differences.