Solve

question 50

Multiple Choice

Solve:

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Definitions:

New Venture Creation

The process of designing, launching, and running a new business or startup.

Market Niche

A specialized segment of the market for a particular kind of product or service, characterized by specific customer needs and preferences that the business aims to fulfill.

First-Mover Advantage

Comes from being first to exploit a niche or enter a market.

Oligopolistic Industry

An industry structure marked by a small number of firms that dominate the market, often resulting in strategic interactions among these firms.