Question

To what competitive force did the printed encyclopedia industry succumb? 1. Substitute products or services 2. Increased bargaining power of suppliers 3. Low cost of entry 4. Positioning and rivalry among competitors Increased bargaining power of customers.

Answer 1

Option 1 i.e., Substitute products or services.

Step-by-step explanation:

The printed encyclopedia industrial sector lost to the economic power of replacing goods or services.

In the industrial countries, the current economic situation is not feasible in terms of its consumption of products as per capita. The ' service economy ' applies not only for the tertiary sector but for an economy in which businesses generate the balance of income, and most workers are also in service operations.