The Number of Competitors and Their Proximity Influences What a Small

question 58

Multiple Choice

The number of competitors and their proximity influences what a small business owner can charge because the competition represents ______.

• A) substitute choices to the customer
• B) a better product for the consumer
• C) better quality as perceived by the consumer
• D) less expensive products

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Definitions:

Stepfamily

A household in which two adults who are biological or adoptive parents (heterosexual, gay, or lesbian) with a child from a previous relationship marry or cohabit.

Cohabiting family

A family unit consisting of an unmarried couple living together in a long-term relationship, potentially with children.

Post-traditional family

A family structure that diverges from conventional societal norms, such as single-parent families or same-sex parents.

Dating

The process whereby two people meet socially for companionship beyond the level of friendship, often with the aim of assessing each other's suitability as a partner in an intimate relationship or marriage.