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The government of Filvia has mandated that the standard minimum wage in the country be increased to $8,000 per year.This has ensured that all firms in the country pay their employees at least $8,000 per year, which has brought about a higher standard of living for the people of Filvia.Which of the following factors in a firm's general environment does this mandate best indicate?


A) Ecological factors
B) Sociocultural factors
C) Technological factors
D) Legal factors

E) C) and D)
F) B) and C)

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In which of the following situations is a company that exists in the telecommunications industry most likely to face the highest threat of entry?


A) If the company is able to put up a credible threat of retaliation
B) If the capital requirements in the industry are high
C) If the customer switching costs in the industry are high
D) If the industry has recently become deregulated

E) A) and B)
F) A) and C)

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A firm's _____ relates to its ability to create value for customers (V) while containing the cost to do so (C) .


A) strategic position
B) incumbency
C) threat of entry
D) attrition rate

E) B) and D)
F) C) and D)

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Which of the following is a feature of an oligopolistic industry structure?


A) Many small sellers
B) Standardized or undifferentiated products
C) Limited pricing power
D) High entry barriers

E) All of the above
F) B) and C)

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What is most likely to happen when there is too much money in an economy?


A) There are too many goods and services.
B) There is a drop in interest rates.
C) There is high economic growth.
D) There is an increase in prices.

E) A) and B)
F) A) and C)

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The telecommunication industry of United Canava is primarily dominated by three large firms, AD Telecom Inc., Mystic Telecom Corp., and Total Talk Inc.Instead of cutting prices competitively, these firms have resorted to non-price competition through branding and product differentiation.Which of the following industry competitive structures are these companies most likely in?


A) Monopoly
B) Perfect competition
C) Monopolistic competition
D) Oligopoly

E) A) and C)
F) B) and D)

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Vibgyor TV Inc.is a large production company that controls a major portion of the movie industry's market share along with two other firms.Despite its competitiveness with the two other firms, it is influenced by their actions and often has to consider their strategic actions before acting on its own.In this scenario, Vibgyor TV Inc.is most likely functioning in a(n) _____ industry.


A) oligopolistic
B) monopolistic
C) perfectly competitive
D) monopolistically competitive

E) A) and B)
F) All of the above

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What is a key feature of an oligopoly?

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A key feature of an oligopoly is that th...

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What are the important dimensions along which strategic groups differ?

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Strategic groups differ from one another...

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Eon Inc., Electravia Inc., and FC Inc., the three largest firms in the consumer electronics industry, hold close to 85 percent of the industry's market share.These companies mainly compete against each other by providing unique features in their products rather than pricing them low.These firms are interdependent, and each firm must consider the strategic actions of its competitors.Which of the following industry competitive structures does this scenario best illustrate?


A) Monopolistic competition
B) Oligopoly
C) Monopoly
D) Perfect competition

E) A) and B)
F) B) and D)

Correct Answer

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Which of the following is an implication of low interest rates?


A) Cost of capital for firms will be high.
B) Firms will invest less in future growth.
C) Economic growth rate will fall.
D) Consumer demand will increase.

E) All of the above
F) A) and C)

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Discuss the features of a perfectly competitive industry.

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A perfectly competitive industry is char...

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Discuss the sociocultural factors managers need to consider in a PESTEL analysis.

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Sociocultural factors capture a society'...

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A strategic group will typically include:


A) firms within the same industry.
B) customers belonging to a particular socioeconomic class.
C) firms employing similar number of employees, irrespective of their industries.
D) employees within a firm earning the same amount of salaries.

E) B) and D)
F) A) and B)

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What does a competitive industry structure refer to?

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A competitive industry structure refers ...

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Which of the following is an implication of high exit barriers in an industry?


A) The number of underperforming firms in the industry will be low.
B) The industry will face excess capacity.
C) The competitive pressure among existing firms will be low.
D) The industry will be more attractive for new entrants.

E) C) and D)
F) A) and D)

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Which of the following is likely to happen due to horizontal mergers between competitors such as Delta and Northwest airlines?


A) The overall industry profitability will increase.
B) The threat of strong competitive forces such as supplier power will increase.
C) The industry will face excess capacity in the future.
D) The structure of the industry will change from consolidated to one that is fragmented.

E) A) and B)
F) B) and D)

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In a firm's external environment, _____ primarily capture population characteristics related to age, gender, family size, ethnicity, sexual orientation, religion, and socioeconomic class.


A) political trends
B) demographic trends
C) ecological trends
D) economic trends

E) A) and B)
F) A) and C)

Correct Answer

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Companies in the same strategic group are _____ to each other.


A) complementors
B) direct competitors
C) strategic partners
D) shareholders

E) A) and B)
F) A) and C)

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The final step in industry analysis is to:


A) draw a strategic group map.
B) identify the underlying drivers of the five forces.
C) identify the key players in each of the five forces.
D) define the relevant industry.

E) All of the above
F) B) and D)

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