The Bargaining Power of Suppliers Is _______ When Buyers Have

question 52

Multiple Choice

The bargaining power of suppliers is _______ when buyers have few choices and _________ when buyers have many choices.

• A)High, high
• B)High, low
• C)Low, low
• D)Low, high

Assess the role of financial management in preventing business failure.

Understand the use of financial ratios and industry benchmarks for business analysis.

Grasp the importance of regular financial record keeping and its impact on decision-making.

Comprehend the necessity of cash budgeting and projections for effective financial planning.

---

Definitions:

Demand Schedule

A demand schedule is a table that shows the quantity of goods or services demanded at different price levels.

TR

Total Revenue, which is the total income generated from the sale of goods or services.

TC

Total cost, which is the sum of all costs incurred by a firm in the production of goods or services.

Economic Profit

The variance between sales income and the alternative costs of the inputs needed.