________ Is the Intense Rivalry Involving Actions and Responses Among

question 45

Multiple Choice

________ is the intense rivalry involving actions and responses among similar competitors vying for the same customers in a marketplace.

• A) Competitive dynamics
• B) Resource similarity
• C) The threat of substitutes
• D) Pioneering new entry

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Definitions:

Creative Destruction

A concept in economics which suggests that new innovations destroy old industries and methods, leading to new sectors and opportunities for growth.

Start-Up Firms

Newly established businesses often characterized by innovation, growth potential, and a scalable business model.

Dominant Firms

Are companies that have a major share of the market sales, setting them apart from their competitors.

Creative Destruction

A concept in economics introduced by Joseph Schumpeter, referring to the process in which technological progress and innovation lead to the demise of outdated industries and economic structures, making way for new ones.