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Different types of relationships impact commercial negotiations. At a negotiation, which one of the following sources would help to support leverage for the buyer?
Suggested Answer: B, D
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A perfectly competitive market is one with the following features:
- There are many firms producing identical or very similar (homogeneous) goods or services
- There are no barriers to entry to the market or exit from the market - anyone can enter or leave easily
- Both producers and customers have perfect knowledge of the market place, prices, costs of production and influences on demand and supply
Under these conditions, the price and quantity will always tend toward equilibrium as any producer that sets a price above equilibrium will not sell anything at all, and any producer that sets a price below a equilibrium will obtain 100% market share in theory. The demand curve is perfectly elastic, which means that it will be horizontal. In a perfectly competitive market, it is difficult to increase profits through pricing, and suppliers instead must focus on their cost structure. As these conditions imply, there are few if any examples of perfectly competitive market.
LO 2, AC 2.2
33 comments · newest first
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Stephanie
11 months ago
Really? I thought personality power could be more influential.
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Aliza
11 months ago
Legitimate power is key in negotiations!
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Frederick
12 months ago
Wait, friends power? That sounds a bit weak.
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Elly
12 months ago
Totally agree, it’s all about who you know!
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Flo
1 year ago
I think powerful colleagues would definitely help.
FA
Fatima
1 year ago
Friends power sounds a bit weak for negotiations, but I guess it could help in some situations. I’m confused!
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Galen
1 year ago
Powerful colleagues could also be a factor, but I’m leaning towards legitimate power since it’s more formal.
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Alethea
1 year ago
I’m not so sure about that. I remember a practice question where personality power seemed to play a big role in negotiations.
TY
Ty
1 year ago
I think legitimate power might be the right answer since it’s based on authority and can really influence negotiations.
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Avery
1 year ago
I'm a bit confused by the wording of the question. Are they asking about the buyer's power sources, or the seller's? I want to make sure I understand the question correctly before I answer.
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Magda
1 year ago
Hmm, I'm not totally sure about this one. I know there are different types of power, but I'm not sure which one would specifically help the buyer in a negotiation. I'll have to think this through carefully.
JE
Jennifer
1 year ago
This seems like a straightforward question about the different types of power in negotiations. I'm pretty confident I can figure this out.
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Kris
1 year ago
Okay, let's see. The buyer would want to have some kind of leverage or power over the other party in the negotiation. I'm thinking legitimate power, where the buyer has a valid claim or authority, would be the best option here.
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Reita
1 year ago
This looks like a pretty straightforward question about ITSI deployment recommendations. I'm confident I can handle this one.
AL
Alyssa
1 year ago
Okay, let's see. The question is asking about the port used for SIP signaling from the Cisco Meeting Server to the H.323 gateway. I'll need to review my notes on Cisco Meeting Server configuration.
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Elmer
1 year ago
The best approach here is to focus on the core purpose of a struct, which is to define a new data type. I'll eliminate the options that don't align with that and select the most relevant one.
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Marya
2 years ago
Wait, I thought this was a negotiation, not a dating game. 'Friends power'? What's next, bringing your mom to the table? I'm going with 'Legitimate power' and leaving the personal connections out of it.
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Alisha
2 years ago
Ah, the age-old dilemma: do I use my real friends or my imaginary friends to get the upper hand? I think I'll go with 'Powerful colleagues' and leave the fantasy power at home.
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Mee
1 year ago
Using personality power can also be effective in negotiations, depending on the situation.
KI
Kizzy
1 year ago
I think legitimate power is also important to support leverage for the buyer.
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Stefania
1 year ago
I agree, having powerful colleagues can definitely give you an advantage in negotiations.
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Rana
2 years ago
Oh, look at Mr. Personality over here, trying to use his charm to get a better deal. Sorry, but 'Personality power' isn't going to cut it. I'm sticking with 'Powerful colleagues'.
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Tegan
2 years ago
I believe powerful colleagues could also support leverage for the buyer.
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Kimbery
2 years ago
I agree with Han, legitimate power is a strong source of leverage.
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Lera
2 years ago
Friends power? Really? I thought this was a business negotiation, not a high school popularity contest. I'm going with 'Legitimate power' on this one.
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Rebecka
1 year ago
Yeah, 'Legitimate power' is definitely more important in this context.
GL
Glenn
2 years ago
I agree, 'Friends power' seems irrelevant in a business negotiation.
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Curt
2 years ago
Hmm, I'd say 'Powerful colleagues' is the way to go. Having some backup from the big guns can really tip the scales in your favor.
JU
Jutta
1 year ago
Friends power might not be as effective as having support from powerful colleagues.
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Ilene
1 year ago
Personality power can be useful too, but having powerful colleagues is more reliable.
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Mel
1 year ago
I think legitimate power is also important to support leverage for the buyer.
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Teddy
2 years ago
I agree, having powerful colleagues can definitely give you an edge in negotiations.
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Han
2 years ago
I think legitimate power would help the buyer in negotiations.