Briefly Discuss the Forces That Have Increased the Level of Competition

question 58

Essay

Briefly discuss the forces that have increased the level of competition faced by firms in the modern day U.S. economy and elsewhere.

---

Definitions:

Overhead Costs

Indirect costs incurred during the production process or in the performance of services, not directly tied to a specific product or service.

Activity Cost Pools

Groupings of individual costs, typically by department or activity, used in activity-based costing to allocate costs to products or services.

Time-Driven

A method or approach that relies on time as the main factor to drive processes, activities, or costing.

Activity-Based Costing

A costing method that assigns costs to products or services based on the activities they require, aiming to provide more accurate cost information.