Industries Where a Decline in Demand Is Most Likely to Cause

question 28

Multiple Choice

Industries where a decline in demand is most likely to cause industry-wide losses tend to have the following characteristics:

• A)High concentration,lack of product differentiation and scale economies
• B)High exit barriers,lack of product differentiation,and a high ratio of fixed to variable costs
• C)High exit barriers,lack of product differentiation,and powerful buyers
• D)Powerful buyers and suppliers and high exit barriers

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Definitions:

Roles

The functions, responsibilities, or expected behaviors associated with a particular position or status in society.

Punctuated Equilibrium

A theory in evolutionary biology that proposes that species evolve rapidly during short periods of radical change, punctuating long periods of stability.

Campus Group

An organized collection of students and/or faculty in a college or university, formed around shared interests, goals, or academic pursuits.

Hazing

A process involving tasks or activities that are potentially harmful or humiliating, used as a way of initiating a person into a group.