Which of the Following Is an Element of a Competitive

question 70

Multiple Choice

Which of the following is an element of a competitive environment?

• A)innovation and risk taking
• B)the degree of interdependence within the industry
• C)the consumer's income
• D)consumers' varied demographic characteristics

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Definitions:

Moral Development

The process by which individuals acquire and refine ethical principles and values, including the differentiation between right and wrong.

Morality of Association

An ethical consideration concerning the extent to which individuals bear moral responsibility for the actions of groups they are associated with.

Second Stage

A subsequent phase or level in a process or series of developments.

Division of Labor

The assignment of different parts of a manufacturing process or task to different people in order to improve efficiency and productivity.