Growing Demand Tends to Reduce Rivalry Because All Companies Can

question 71

True/False

Growing demand tends to reduce rivalry because all companies can sell more without taking market share away from other companies.

---

Definitions:

Availability Heuristic

is a cognitive shortcut that relies on immediate examples that come to a person's mind when evaluating a specific topic, concept, method, or decision.

Representativeness Heuristic

A cognitive shortcut used in decision making, where the likelihood of an object belonging to a category is judged based on how similar it is to one's conception of that category.

Algorithms

A set of rules or instructions given to perform a task or solve a problem, commonly used in computer programming and mathematics.

Effortful Thinking

The process of thinking that requires conscious effort and attention, as opposed to automatic or instinctive thought processes.