How has the global economy changed the competitive environment?
A) Suppliers are not required to reach a wide range of customers.
B) Customers now have less access to information about substitutes.
C) It has intensified rivalry by increasing product and vendor choices.
D) It has made it easier for new market entrants in all fields to penetrate the market.

Question

Quizplus · Accepted Answer

The global economy has made it easier for various companies to offer their products and services across the world, resulting in an increase in the number of product and vendor choices. This increased competition has intensified rivalry in various fields. Therefore, option C is the correct answer as it highlights the impact of the global economy on the competitive environment. Options A, B, and D are not correct as they do not correctly address the impact of the global economy on the competitive environment.

How Has the Global Economy Changed the Competitive Environment