Which Statement Is TRUE About Hypercompetitive Industry

question 21

Multiple Choice

Which statement is TRUE about hypercompetitive industry?

• A) The chewing gum industry is hypercompetitive because innovations are frequent.
• B) The video game industry is hypercompetitive because new games are introduced frequently.
• C) The cell phone industry is not hypercompetitive because all cell phones basically do the same thing.
• D) The pizza industry is hypercompetitive because there are two main competitors.

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Definitions:

Butter

A dairy product made by churning cream or milk, used as a spread or in cooking.

Efficient Allocation

The distribution of resources in a way that maximizes the net benefits to an economy or society.

Technology

The application of scientific knowledge for practical purposes, especially in industry, which includes machinery, equipment, methods, and techniques.

Strawberries

A soft, red fruit with a sweet taste and small seeds on its surface, often eaten fresh or used in desserts.