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Transitions are times of potential risk for families. Age-related or life events often occur during transitions from one developmental stage to another. Which of the following is true about transitions? Transitions:
Close Substitutes
Products or services that can serve almost the same purpose or fulfill the same need, allowing consumers to switch easily between them.
Market Power
The ability of a company or entity to influence the price and control the market for its product or service.
Monopolistic Competition
A market structure characterized by many firms selling products that are similar but not identical, allowing for some degree of market power and differentiated competition.
Differentiated Products
Goods or services that are distinguished from others by quality, design, branding, or other features, even if they serve the same purpose.
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