Which phrase best describes the income effect ?

a. the effect of demand and supply on income earned by producers

b. the impact of price on consumers' purchasing ability and decisions

c. the increased income earned by suppliers because of high prices

d. the impact of consumers' income on the supply of a product

answer; ///(d); determining who competes most closely   with whom evaluating whether industry driving forces and competitive pressure favor some strategic groups and hurt others, and ascertaining whether the profit potential of different strategic groups varies due to the strengths and weaknesses in each groups respective market positions;

answer; ///blank(1); rate-buster; blank(2) systematic soldiering;