Competition Can Promote Safety, but It Can Also Get Out

question 12

True/False

Competition can promote safety, but it can also get out of control and do more harm than good.

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Definitions:

Marketplace

An open environment in which goods and services are exchanged between buyers and sellers.

General Environment

The general environment encompasses the broad external conditions that can impact an organization, such as economic, legal, technological, and sociocultural factors, influencing its strategies and performance.

Technological Conditions

The state of available technology and its influence on a company's operations, capabilities, and industry environment.

Competition

A situation in which two or more parties strive for a goal that cannot be shared, such as a market that cannot support everyone.