The nature and strength of the competitive forces that prevail in an industry is generally a joint product of all of the following except
A)pressures associated with rivalry among sellers to attract buyer patronage.
B)threats that firms outside the industry will decide to enter the market.
C)attempts of companies in other industries to win buyers over to their own substitute products.
D)pressures stemming from the bargaining power of both suppliers and buyers.
E)those associated with environmental forces such as climate change or water shortages.

Question

Quizplus · Accepted Answer

The strength of competitive forces in an industry is typically determined by internal factors such as rivalry among sellers, threats of new entrants, bargaining power of suppliers and buyers, and the availability of substitute products. External forces such as climate change or water shortages may impact the industry, but they are not typically considered primary factors in determining competitiveness.

The Nature and Strength of the Competitive Forces That Prevail