The Bargaining Power of Suppliers Increases If

question 43

Multiple Choice

The bargaining power of suppliers increases if

• A)the cost of switching suppliers is relatively low.
• B)there are only a few competitors to the supplier.
• C)the input in question is not a critical component of production.
• D)the input supplied is relatively standardized.

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Definitions:

Catalyzed

The process of accelerating a chemical reaction by the presence of a catalyst, without the catalyst being consumed in the reaction.

Heterogeneous Catalysts

Catalysts that are in a different phase than the reactants, often used to increase the rate of chemical reactions without being consumed in the process.

Homogeneous Solutions

Mixtures that are uniform in composition and appearance throughout, where all components are dissolved into a single phase.

Reactants

Chemicals that exist before a reaction takes place, consumed in the process to yield the products.