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Identify and Briefly Explain Any Three Factors That Intensify Competitive

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Essay

Identify and briefly explain any three factors that intensify competitive pressures stemming from the threat that new firms will enter the industry.


Definitions:

Manufacturing Sector

The segment of an economy that is involved in the production of goods using labor, machinery, and tools.

Developing Countries

Refers to nations with lower levels of income, industrialization, and often a lower Human Development Index compared to developed countries.

Industrial Market Countries

Nations with economies mainly based on industrial production and services, with advanced technological infrastructure.

Labor Force

The labor force consists of all the working-age population who are willing and able to work, including both employed and unemployed individuals.

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