Global Competition Has Increased the Options for Consumers and Has

question 53

True/False

Global competition has increased the options for consumers and has made it more imperative for firms to identify the needs of customers in order to earn above-average returns.

---

Definitions:

Western Providers

Health care professionals or services originating from or based in Western countries, often contrasted with traditional or alternative medicine practitioners from non-Western contexts.

Collectivism

The principle of prioritizing the needs and goals of the group over the individual.

Individual Achievement

Success or accomplishment attained through one's own efforts or abilities, often highlighted in contexts emphasizing personal accountability.

Capitalism

An economic system based on private ownership of the means of production and their operation for profit.