Which of the Following Is the Definition of "Competitors

question 23

Multiple Choice

Which of the following is the definition of "competitors?"

• A)Firms that manufacture similar products
• B)Firms located in geographic proximity to each other
• C)Firms that sell products to the same group of buyers
• D)Firms whose strategic choices directly affect one another
• E)Firms that purchase factors from the same suppliers

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Definitions:

Ratification

The formal approval or confirmation of an act or agreement, making it officially valid.

Age of Majority

The legally recognized age at which an individual is considered an adult, capable of voting, entering into contracts, and performing other civil duties.

Restitution

A remedy whereby one is able to obtain the return of that which he has given the other party, or an amount of money equivalent to that which he has given the other party.

Disaffirmed Contract

A contract that has been declared void or invalid by one of the parties involved, often due to reasons like lack of capacity or legality.