The Existence of a Large Number of Competitors in Any

question 3

Multiple Choice

The existence of a large number of competitors in any one market segment may indicate:

• A)an untapped market niche.
• B)the market is saturated.
• C)no one firm has differentiated itself within that market.
• D)a market that has already been tried without success.

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Definitions:

Milgram Experiment

A psychological experiment conducted by Stanley Milgram in the 1960s to study obedience to authority, where participants were instructed to administer electric shocks to another person.

Stanford University Prison Experiment

A psychological study conducted by Philip Zimbardo in 1971 at Stanford University, where students were assigned roles of prisoners and guards to explore the effects of perceived power.

Generalization

Drawing a conclusion about a certain characteristic of a population based on a sample from it.

Logical Support

The provision of reasons or evidence to justify a claim or argument.