How Has the Global Economy Changed the Competitive Environment

question 15

Multiple Choice

How has the global economy changed the competitive environment?

• A)It has made it easier for new market entrants in all fields to penetrate the market.
• B)Customers now have less access to information about substitutes.
• C)It has intensified rivalry by increasing product and vendor choices.
• D)Suppliers are not required to reach a wide range of customers.

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Definitions:

Boredom

A state of feeling uninterested, weary, or impatient due to a lack of stimulation, excitement, or engagement.

Leaning Back

A posture where one inclines the torso backwards from a vertical or standing position, often for relaxation or balancing purposes.

Active Listening

The practice of fully concentrating, understanding, responding, and remembering what is being said in a conversation.

Communication Process

The act of conveying information and understanding between two or more individuals, encompassing the sender, message, medium, receiver, and feedback.