Macmillan LearningPlease match the five forces that shape competition and profitability with each description.Firms must buy theinputs for a good.Others are attracted bypotential economic profit.Dividing market share cancause pressure on price.Other goods could be usedin place of this good.Can customers influence theprice they pay for the good?Answer Bankthreat frompotential entrantscompetition fromexisting firmsbargaining power of buyerscompetition fromsubstitute goodsbargaining powerof suppliers

The factors that influence industry rivalry and profitability play a critical role in determining…

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Please match the five forces that sh Firms must buy the inputs for a good. 0 pot ********* Div ca Oth i

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Macmillan Learning
Please match the five forces that shape competition and profitability with each description.
Firms must buy the
inputs for a good.
Others are attracted by
potential economic profit.
Dividing market share can
cause pressure on price.
Other goods could be used
in place of this good.
Can customers influence the
price they pay for the good?
Answer Bank
threat from
potential entrants
competition from
existing firms
bargaining power of buyers
competition from
substitute goods
bargaining power
of suppliers

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