1) High levels of competition may be caused by:
A. Rapid industry growth
B. Low fixed costs
C. A small number of competitors
D. A lack of product differentiation
E. Low exit barriers
2) Which of the following may lead a firm to conclude that an industry is attractive to enter?
A. Strong supplier power
B. Strong customer power
C. No close substitutes
D. Many strong competitors
E. Low sales growth
3) According to Michael Porter, conditions that create advantages for firms in certain countries and industries include:
A. Suppliers to a particular industry are the very best in the world
B. Strong industry competition
C. Buyers are among the most demanding in the world
D. Ability to attract the most talented managers
E. All of the above