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QLDBusinessQuick questions
Unit 3: Business diversification
Quick questions on Competitive markets and Porter's five forces (QCE Business Unit 3)
7short Q&A pairs drawn directly from our worked dot-point answer. For full context and worked exam questions, read the parent dot-point page.
What are market structures?Show answer
Most Australian consumer markets sit in monopolistic competition or oligopoly. True perfect competition is rare; true monopolies usually exist only by regulation or natural-monopoly infrastructure.
What are porter's five forces?Show answer
Michael Porter's (1979) five forces framework identifies the structural determinants of profitability in an industry.
What are big Four banks?Show answer
CBA, Westpac, NAB and ANZ each hold around 20-25 percent share of Australian mortgages. Industry rivalry is moderate (interdependent pricing, sticky customers). Supplier power (depositors, wholesale funders) is moderate.
What is australian mining?Show answer
BHP, Rio Tinto and Glencore dominate iron-ore and coal exports. Industry rivalry is moderate (cost-curve competition globally). Supplier power is low (commodity inputs).
What are sydney cafes?Show answer
Thousands of cafes in Sydney, each differentiated by location, coffee quality, food and atmosphere. Industry rivalry is intense. Supplier power varies (some coffee roasters dominate).
What is plan?Show answer
Assess each force, then make a recommendation.
What are generic "supermarkets are competitive" answers?Show answer
Specific evidence - market shares, ACCC inquiry findings, named players - earn higher marks.
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