For firms like Apple and Samsung,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 is the rivalry among businesses for sales to potential customers, and it is a significant factor that must be considered by all businesses, including large ones like Apple and Samsung. Despite their size and market dominance, these firms still face competition from other players in the industry, such as Huawei or Google. Thus, D is the correct answer, as it accurately reflects the nature of competition and its relevance to large companies in a free-market economy.

For Firms Like Apple and Samsung,competition