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Q20. Barriers to entry affect the ability of firms outside an industry to enter and take
advantage of profit opportunities. Which of the following is not an example of such a barrier?
A) Product differentiation
B) Economies of scale
C) Capital requirements
D) Switching costs
E) The relative size of existing firms in the industry
Q21. In Porter's five forces model, what is meant by the term 'substitute'?
Q22. Which of the following items is not a criticism of the five forces model?
iii) In viewing all the forces as threats it does not allow for Co-operation.
A) i and iii
B) v