Industries That Are Characterized by Permanent, Ongoing, Intense Competition Brought

question 21

Multiple Choice

Industries that are characterized by permanent, ongoing, intense competition brought about by advancing technology or changing customer tastes, fads, and fashions are an example of

• A)global competition.
• B)differentiated competition.
• C)focused competition.
• D)hypercompetition.

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Definitions:

Tax

An obligatory monetary contribution or another kind of charge levied on a taxpayer by a government authority for the purpose of funding government operations and diverse public costs.

Higher Prices

A situation in which the cost of goods or services increases, often due to factors such as increased demand or higher production costs.

Tax Imposition

The process by which a government or authority imposes a financial charge or levy upon a taxpayer.

Supply

The total amount of a specific good or service that is available to consumers, often influenced by the product's price.