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Year 12 Business Studies: Five Forces Analysis

Authored by Sandra BYRT

Business

11th Grade

Used 2+ times

Year 12 Business Studies: Five Forces Analysis
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11 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What effect does an increase in the number of competitors in an operating area have on a business?

It decreases the threat to the business.

It increases the threat to the business.

It has no effect on the business.

It guarantees higher profits for all businesses.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why might competitors that are financially powerful and aggressive pose a greater threat?

They are more likely to take aggressive marketing tactics such as lowering prices.

They tend to ignore market trends.

They avoid competition altogether.

They focus only on customer service.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What happens to the bargaining power of customers when there are fewer buyers in the market?

The bargaining power of customers becomes greater

The bargaining power of customers becomes smaller

The bargaining power of customers remains the same

The bargaining power of customers disappears

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does the amount of information buyers have about an industry affect their bargaining power?

More information increases their bargaining power

More information decreases their bargaining power

Information has no effect on bargaining power

Less information increases their bargaining power

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why might mechanics be able to overcharge customers who do not know anything about cars?

Because the customers have less information about the industry

Because the customers are highly dependent on cars

Because there are many buyers in the market

Because the industry is very attractive

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why does a high cost of switching to another service provider reduce your bargaining power?

Because it makes it expensive and difficult to leave your current provider.

Because it increases your monthly plan fee.

Because it allows you to negotiate better deals.

Because it gives you more options for service providers.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a factor that affects the bargaining power of suppliers in a market?

The number of suppliers in the market

The number of customers in the market

The price of finished goods

The marketing strategy of competitors

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