When the Price of Beef Skyrockets, Consumers Switch to Pork

question 107

Multiple Choice

When the price of beef skyrockets, consumers switch to pork and chicken. This demonstrates ________.

• A) the threat of new entrants
• B) the threat of substitutes
• C) the bargaining power of buyers
• D) the bargaining power of suppliers

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Definitions:

Treponema Pallidum

The bacterium that causes syphilis, a sexually transmitted infection that can have serious health consequences if not treated.

Penicillin

A group of antibiotics used to treat various bacterial infections, derived from the Penicillium fungi.

Depo-Provera

A contraceptive injection containing progesterone that prevents ovulation, used as a form of birth control effective for three months per dose.

Contraceptive

Any method or device used to prevent pregnancy, ranging from hormonal pills and implants to barrier methods like condoms.