The Competitive Pressures from Substitute Products Tend to Be Stronger

question 121

Multiple Choice

The competitive pressures from substitute products tend to be stronger when

• A)good substitutes are readily available.
• B)there are fewer number of substitute products.
• C)substitutes have lower performance features.
• D)buyers incur high costs in switching to substitutes.
• E)substitutes are priced above the market.

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Definitions:

Milgram Experiment

A psychological experiment conducted by Stanley Milgram in the 1960s to study obedience to authority, where participants were instructed to administer electric shocks to another person.

Stanford University Prison Experiment

A psychological study conducted by Philip Zimbardo in 1971 at Stanford University, where students were assigned roles of prisoners and guards to explore the effects of perceived power.

Generalization

Drawing a conclusion about a certain characteristic of a population based on a sample from it.

Logical Support

The provision of reasons or evidence to justify a claim or argument.