Question 1. What does it mean for a customer to be price-sensitive? All else constant, what impact does price-sensitivity have on the bargaining power of buyers (customers)? Explain why. (2 points)

Question 2. What are the three questions you need to answer in order to assess the impact of the forces driving industry change? Identify any one industry driving force (IDF) for a specific industry of your choiceto do this, state and answer any one of the 3 questions to assess and clearly indicate a significant impact of that force on the industry. (2 points)