Which of the following statements is true of the competitive environment in the United States?
A)Population growth in the United States decreases global competition.
B)Technology advances can change a firm's business model.
C)Rise of product costs makes resources readily available.
D)A management has full control over the competitive environment.

Question

Quizplus · Accepted Answer

Technology advances can disrupt industries and change a firm's business model, which can have a significant impact on the competitive environment. This makes it important for businesses to constantly stay up-to-date with technological advancements in their industry to remain competitive.

The other choices are incorrect:
A) Population growth in the United States does not necessarily have an impact on global competition as other factors like economic policies, trade agreements, and cultural differences can significantly affect the competitive environment.
C) A rise in product costs does not necessarily make resources more readily available as it can result in decreased demand for products and services, thus decreasing the availability of resources for businesses.
D) A management can influence the competitive environment, but they do not have full control over it as it is affected by a range of internal and external factors, including market trends, consumer preferences, and government regulations.

Which of the Following Statements Is True of the Competitive