Competition Can Exist When

question 14

Multiple Choice

Competition can exist when:

• A)a hardware store competes with a grocery store
• B)a shoe store competes with a different shoe store
• C)a cable company in the province of Ontario competes with the same cable company in the province of P.E.I.
• D)a store closes down due to bankruptcy

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Definitions:

Warranty Obligations

Commitments made by a seller to repair, replace, or refund products that fail within a certain period.

Warranty Expense

Expenses a business faces for the repair or replacement of products covered by warranty.

Sales

The total revenue generated from selling goods or services over a specific period of time.

Defined Contribution Pension Plan

A type of retirement plan in which an employer, employee, or both make contributions on a regular basis, but the future benefit received by the employee depends on the plan's investment performance.