Adapters Are Organizations That

question 62

Multiple Choice

Adapters are organizations that

• A)try to change the structure of their industries.
• B)create a future competitive landscape of their own design.
• C)take the current industry structure and its future evolution as a given.
• D)generally remain ignorant of the structure of their industry and its potential.
• E)let competitive opportunities come to them rather than choose where to compete.

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Definitions:

Market Equilibrium Price

The price at which the quantity of goods supplied equals the quantity of goods demanded in a market.

Market Share

The portion of a market controlled by a particular company or product.

Revenue

The total amount of money generated by a company from its business activities, such as sales of goods or services, before any expenses are subtracted.

Price-Taker Market

A market situation where sellers or buyers have no influence on the price of a product or service, taking the market price as given.