Explain what the Five Forces Model is useful for and identify ...

[Evvie72]

Explain what the Five Forces Model is useful for and identify each of them.
 
  What will be an ideal response?

Question 2

When does a government run a budget surplus??
 
  What will be an ideal response?

[Athena23]

Answer to Question 1

The Five Forces Model is a model that helps economists understand the competitive forces that determine the level of competition and profitability in an industry. Those forces are potential entrants, buyers, suppliers, substitutes and the rivalry among existing firms.

Answer to Question 2

When the government's tax revenues exceed its spending in a time period (for example, a year), the government is said to be running a budget surplus.

[Evvie72]

Thank you

[Athena23]

No problemo