Some Industries' Competition Is Much More Intense Than Others

question 267

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 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:

Convex Preferences

In microeconomics, a condition where consumers prefer a mix of goods over having only one good, illustrated by a convex shape of their indifference curves.

Centered

In a general context, it means being in the middle or at the heart of something; in mathematics, it can refer to the process of adjusting data points or a distribution so that its mean equals zero.

Convex Preferences

Refers to a situation in economics where a consumer prefers a mix or combination of goods over having all of one good, demonstrating a desire for diversity in consumption.

Exchange

The act of giving one thing and receiving another in return, particularly in reference to goods, services, or currencies.