Which of the Following Combinations Can Result in a Best-Case

question 53

Multiple Choice

Which of the following combinations can result in a best-case scenario?

• A)Many competitors, high threat with and few entry barriers, and few customers
• B)Many competitors, high threat with and few entry barriers, and many customers
• C)Few entry barriers, many substitutes, and many customers
• D)High industry growth, low threat with and many entry barriers, and customers with low bargaining power
• E)Low industry growth, high threat with and few entry barriers, and suppliers with low bargaining power

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Definitions:

Quantity Supplied

The quantity of a product that suppliers are ready to sell at a particular price during a defined time frame.

Comparative Advantage

An individual's, a business's, or a nation's potential to produce a service or good at an opportunity cost that is inferior to that of its competition.

Production Possibilities

Production possibilities refer to the different combinations of goods and services that an economy can produce given its available resources and technology.

Specialization

The process of focusing effort and resources on a limited number of activities to increase efficiency and productivity.