Your Boss, Ty Jacob, Has Asked You to Analyze the Music

question 132

Multiple Choice

Your boss, Ty Jacob, has asked you to analyze the music industry using Porter's Five Forces model.Which of the following represents the threat of substitute products or services in the music industry?

• A)Established record labels like EMI, Sony, Universal.
• B)Independent record labels.
• C)Game systems like Wii, social networks like Facebook.
• D)Taylor Swift, Beyoncé, The Beatles, The Stones.

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Definitions:

Perfect Complements

Goods that are used together in fixed proportions, where the consumption or utility of one good directly impacts the effectiveness or utility of the other.

Indifference Curves

Graphical representations in microeconomics showing all combinations of goods that provide equal satisfaction to a consumer.

Gloves

Hand-worn garments intended to protect the hands from various conditions such as cold, heat, damage, or contamination.

Optimal Choice Point

In decision theory and economics, the point at which the decision maker achieves the best possible outcome under given constraints.