Which of the Following Competitive Forces Is Not One of the Five

question 88

Multiple Choice

Which of the following competitive forces is not one of the five mentioned in this chapter?

• A)Threat of market entry by new competitors
• B)Threat of substitute goods
• C)Bargaining power of customers
• D)Intensity of rivalry among competitors

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Definitions:

Collude

When two or more firms work together to control a market, set prices, or limit production, often in ways that defy competitive principles or regulations.

Competitive Market

A market with many buyers and sellers trading identical products so that each buyer and seller is a price taker.

Strategic Interactions

The analysis of decision making in situations where two or more players (such as individuals or firms) must consider the potential reactions of others to their own actions.

Tit-for-Tat Strategy

A strategy in repeated games where a player's move in the current round is the same as the opponent's move in the previous round.