Which of the Following Is True About Global Competition

question 49

Multiple Choice

Which of the following is true about global competition?

• A)There is less of a focus on quality and more of a focus on price internationally.
• B)It makes companies more customer-focused.
• C)It is largely the domain of small businesses due their flexibility.
• D)It tends to shorten the life cycle of a product or service.

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Definitions:

Induced Consumption

Consumer spending that varies with income, representing the portion of income that households spend on goods and services rather than saving.

Disposable Income

Income available to households for the strategies of saving and spending after tax deductions.

Billion

A Billion is a numerical value equivalent to one thousand million (1,000,000,000) in the American short scale, commonly used in financial and demographic contexts.

Saving

The portion of income that is not spent on consumption or taxes, often set aside for future use or investment.