1. True or false: The results from an industry analysis can be used indefinitely. Think of fruitcake - it lasts forever, right?

2. True or false: The entrepreneurial capacity of managers in a single firm is a building block of industry analysis.

3. True or false: A supplier basing its competitive advantage on a unique standard (for example, software that can only run on Google Chrome or Internet Explorer) for its product makes it easier for customers to switch to another supplier.

4. Why does profitability change over time?