Which of the Following Pairs Are Most Likely to Be

question 180

Multiple Choice

Which of the following pairs are most likely to be competitors?

• A) Saturn and Rolls Royce
• B) General Electric and IBM
• C) Starbucks and Red Lobster
• D) Kellogg's and General Mills
• E) Macy's Department Store and Dollar General

---

Definitions:

Profits

The financial gain realized when the revenue earned from economic activities exceeds the expenses, costs, and taxes associated with sustaining the activity.

Firms

Business entities engaged in commercial, industrial, or professional activities, either for profit or as a nonprofit.

Perfectly Competitive

a market structure characterized by a large number of small firms, a homogeneous product, perfect information, and no barriers to entry or exit.

Patents

Legal documents granting an inventor exclusive rights to produce, use, and sell their invention for a specific period of time.