41. Value can be defined as: a. "the lowest price." b. "the ability to differentiate one product from another." c. "the satisfaction a product creates for customers." d. "the highest price." 9. Manufacturing equipment and financial capital are examples o a. tangible resources that are difficult to see and quantify b. tangible resources that are easy to see and quantify c. intangible resources that are difficult to see and quantify d. intangible resources that are easy to see and quantity Goods or services from outside the industry that perform functions that are similar to an existing product in a different industry are known as a. complimentary products b. switching products c. substitute products d. differentiated products 35. Suppliers in an industry are most powerful when: a. there are few substitutes for the products that they sell. b. switching costs are low. c. outside companies can easily threaten to enter the suppliers' industry. d. their profitability is significantly affected by the purchases of companies in a particular industry. A number of firms that compete with each other and produce similar products is best known as: a. a monopoly b. an industry c. a coalition d. a merger