For firms like Target and Wal-Mart, competition
A) is not a factor that must be considered in a free-market economy.
B) affects smaller businesses but not large chain operations.
C) affects larger chain operations but not smaller businesses.
D) is a rivalry among businesses for sales to potential customers.
E) is a problem that has been eliminated in the twenty-first century.

Question

Quizplus · Accepted Answer

Competition refers to the rivalry among businesses for sales to potential customers. This affects all businesses, regardless of their size or market share. For large chain operations like Target and Wal-Mart, competition is an important factor that must be considered in the free-market economy as it affects their profitability and market share. Therefore, the best choice is D.

For Firms Like Target and Wal-Mart, Competition