Which of the following refers to a level of competition that includes any product,related or unrelated,that could be viewed as substitutable in a budget?

Question

Quizplus · Accepted Answer

Budget competition refers to the level of competition where any product, whether related or unrelated, can be considered substitutable based on the consumer's budget constraints. This encompasses a broader view of competition beyond direct or even indirect product competitors, focusing on how consumers might allocate their spending among completely different categories based on available budget.

Which of the Following Refers to a Level of Competition