1. An industry is defined as:

a. A collection of firms that compete with one another in a single product market.

b. A collection of firms that exist in a particular geographical area (e.g. Spain).

c. A collection of firms that use similar distribution channels.

d. All of the above.

2. Which of the following is a stock market?

a. Dow Jones.

b. NYSE.

c. Standard and Poors.

d. All of the above.

3. Which of the following is not a good core competence?

a. Logistics management.

b. Large cash resources.

c. Skill in acoustic technology.

d. The ability to produce hybrid automobiles.

4. Michael Porter's five-forces model does not include

a. Bargaining power of suppliers.

b. Competitive Rivalry.

c. Stock Market Fluctuations.

d. Threat of Substitutes.

5. Which of the following is not an example of the sociocultural segment of the general environment?

a. People are getting health conscious

b. Minimum wages are rising

c. More people are telecommuting

d. More women work, so more families eat out