According to Michael Porter,there Are Five Determinants of Competition

question 19

Multiple Choice

According to Michael Porter,there are five determinants of competition.An example of _____ is when competitors seek to expand their share of the market.

• A)Threat of Entry
• B)Rivalry between Existing Competitors
• C)Pressure from Substitute Products
• D)Bargaining power of Buyers
• E)Bargaining power of Suppliers

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Definitions:

Provincial Legislation

Laws that are enacted by the legislative assemblies of provinces in a country, thus varying between provinces based on local needs and conditions.

Express Agreement

A contract where the terms are clearly stated and verbally or in writing agreed upon by all parties.

Unregistered Partnership

A business partnership that has not been formally registered with state or local authorities, often affecting its legal rights and liabilities.

Contributory Negligence

A legal principle where the plaintiff's own negligence plays a role in the harm suffered, potentially reducing the compensation they can receive.