The interaction and relationship of the buyers and sellers

When demand for goods/service exceeds production capacity, the price of the product increases

The remote environment of a firm includes the competitors, suppliers, customers, publics, and intermediaries.

The threat of substitute products increases when the price of the substitute product is higher.

The bargaining power of buyers increases when the switching costs are low.

This segment refers to potential and actual changes in the physical environment and business practices that are intended to positively respond to and deal with those changes.

This factor represents how organizations and governments mutually try to influence each other, and how firms try to understand these influences (current and projected) on their strategic actions

This factor refers to the nature and direction of the economy in which a firm competes or may compete. Examples are interest rates, inflation rates, business savings rate.

This factor is concerned with a society’s attitudes and cultural values.

A group of firms that produce similar products or offer similar services that are close substitutes.

Refers to nature and degree of competition in the market for goods and services.

Factors beyond the control of the firm that influence its choice of direction and action, organizational structure, and internal processes.

this represents the rate at which the cost of goods and services increase over a period of time

A type of inflation wherein the price increases due to an increase in production costs.

If demand increases, and supply remains unchanged, a _______ will result, leading to a higher equilibrium price.

If demand remains unchanged, and supply decreases, a _________ will result, leading to a higher equilibrium price.

If demand decreases and supply remains unchanged, _____ will result, thus leads to a lower equilibrium price.

Examines small economic units and the components of the economy.

It is the study of observing how economics theories work in practice.

What is the difference between Perfect Competition and Monopolistic Competition?

Which of the following Market Structure has the fewest numbers of firms (sellers)

Which of the following Market Structure types has a large number of firms that sell slightly different products.

Which of the following Market Structure Types has only a few competing firms

Which of the following is the best example product for a Perfectly Competitive Market

One of the characteristics of a Monopoly is:

Firms face competition when the good they produced

A monopoly is a market with

A Market Structure with a large numbers of firms, differentiated products, and free entry and exit is called:

Firms use marketing to:

Environmental Scanning is an activity carried out by only new companies.

Ferry trips and air travel can be substitute products.

Which of the following is a technological factor?

Which of the following is a social factor?

Which of the following is an economic factor

Which of the following is an economic factor

Which of the following is an environmental factor?

Which of the following is NOT a type of Market Structure?

Monopoly and Monopolistic Competition mean the same

The following are included in the industry environment, except:

The following are included in the Remote Environment, except:

The threat of substitute products increases when:

Perfect competition is composed of the following requirements except?

It is a market situation in which there is only one seller of a product with barriers to entry of others. The product has no close substitutes.

Choose all the problems that could arise when government intervenes in the market. Choose 3.

Please check all the benefits of government intervention in the market. Choose 3.

Firms use marketing to:

A Market Structure with a large number of firms, differentiated products, and free entry and exit is called:

A monopoly is a market with

Firms face competition when the good they produced