According to the Textbook, the Three Different Types of Competitors

question 14

Multiple Choice

According to the textbook, the three different types of competitors a business will face are ________.

• A) potential, direct, and upcoming
• B) indirect, fleeting, and future
• C) serious, cautious, and future
• D) direct, indirect, and future
• E) potential, fleeting, and indirect

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Definitions:

Inflation

The increase in the average price of goods and services over time, detracting from the effective purchasing capacity.

Recession

A recession is a period of economic decline across a broad spectrum of the economy lasting more than a few months, typically visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.

Government

The system or group of people governing an organized community, often a state.

Active Approach

A strategy or policy that involves direct intervention or action, often by the government or an organization, to achieve a specific goal.