A broader set of actual and potential competitors is revealed by embracing the ________ concept of competition.
A) vertical
B) barrier
C) global
D) industry
E) market

Question

Quizplus · Accepted Answer

The market concept of competition reveals a broader set of actual and potential competitors by considering not just direct competitors within an industry, but also indirect competitors and substitutes that might fulfill the same customer needs.

A Broader Set of Actual and Potential Competitors Is Revealed