A Company Is More Likely to Be Hurt by Current

question 25

True/False

A company is more likely to be hurt by current competitors than by emerging competitors or new technologies.

---

Definitions:

Labor

The exertion of mental and physical capabilities by individuals in creating goods and services.

Firm's Demand

The total quantity of a product or service that a business anticipates consumers will purchase at various price levels.

Derived Demand

Demand for a good or service that arises from the demand for another good or service; for example, the demand for steel is derived from the demand for cars.

Input

Refers to the resources, materials, or services that are used in the production of goods and services.