The Key Implication of "Hypercompetition" in Business Is That

question 41

Multiple Choice

The key implication of "hypercompetition" in business is that:

• A)Competitive advantage is temporary
• B)Technological change will continue to accelerate
• C)"If it ain't broke,don't fix it" is an obsolete piece of advice
• D)The concept of Schumpeterian competition needs to be updated to realities of the 21st century.

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Definitions:

Domestic Opportunity Cost

The cost of forgoing the next best alternative use of a country's resources when choosing to produce a particular good or service.

Domestic Supply

The total amount of a good or service that is available from domestic producers within a country, influencing national prices and availability.

Domestic Demand

The overall desire for merchandise and services within a nation's boundaries.

Price

The amount of money required to purchase a good or service, determined by supply and demand dynamics within the market.