Market and industry are
A) very specific economics terms which must be rigidly adhered to.
B) are concepts which require careful consideration of their philosophical underpinning to use correctly.
C) somewhat flexible in scope depending on what aspect of business you are considering.
D) close concepts where market is identified with broader sectors, while industries refer to specific technologies.
Correct Answer:
Verified
Q47: The question "What does a firm need
Q48: Understanding the competitive forces in an industry
Q49: Bargaining power rests, ultimately, on
A)the negotiating skills
Q50: The relative bargaining power of buyers depends
Q51: The question "What do customers want?"
A)is not
Q53: In practice, drawing the boundaries of industries
Q54: The value to managers of understanding key
Q55: Porter's 5 Forces model was based on
Q56: An industry's current profitability
A)on its own tends
Q57: A market's boundaries are defined by
A)the geographies
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