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Practice Quiz
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1
Macro-environmental PESTEL analysis considers effects of forces directly on:
A)a single firm.
B)industry leaders.
C)an entire industry.
D)a strategic group.
2
Globalization has led to increased entry barriers.
A)True
B)False
3
All of the following are aspects of sociocultural factors influencing industry attractiveness EXCEPT:
A)growth rate of the population.
B)age distribution of the population.
C)environmental protection laws.
D)lifestyle changes.
4
Agriculture is generally considered a perfect competition industry with largely commodity products. However there is an aspect of the industry that can be classified as monopolistic competition with differentiated products and price premiums. Which part of the industry is it?
A)Genetically modified wheat
B)Corn for biodiesel
C)Organic milk
D)Fresh water salmon
5
A ____________ is created when the government believes the product or service would not be supplied by the market under free market conditions.
A)Monopolistic competition
B)Regulated monopoly
C)Near monopoly
D)Natural monopoly
6
The objective of Porter's five forces model is to:
A)assess firm profitability.
B)assess the potential for profits within an industry.
C)emphasize the intensity of rivalry within an industry.
D)analyze the economic conditions of the industry.
7
Exit barriers are obstacles that determine how easily a firm can leave the industry. When exit barriers are high, what happens to industry attractiveness?
A)it decreases
B)it increases
C)it becomes a complement
D)it has no impact
8
A ____________ is a product or service that can help raise demand in an industry by indirectly enhancing performance or decreasing prices.
A)core competency
B)substitute
C)complement
D)component
9
Industry structures are not stable over time. The U.S. banking industry has seen major consolidation in recent years. We would expect the result of this dynamic change to be what?
A)Generally lower industry profits
B)It will have no effect on profitability.
C)Further erosion in business
D)Generally higher industry profits
10
Strategic group mapping tells us that:
A)competitive pressures in an industry are similar among all strategic groups.
B)competitive pressures in an industry favor some strategic groups while threatening others.
C)that product features and prices are irrelevant to a strategic group.
D)rivals inside a strategic group serve different customers.







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