Which of the following is true about the impact of global competition on the business activities in the marketplace?
A) It has shifted the focus in the marketplace from a consumer's market to a seller's market.
B) It has increased product life cycles.
C) It has put more power in the hands of the customer.
D) It has reduced the competitive spirit of most businesses in a marketplace.
E) It has limited the choices of the consumers.

Question

Quizplus · Accepted Answer

The power in the marketplace is shifting from a sellers' to a customers' market, and the latter have more choices because more companies are competing for their attention. More competition and more choices put more power in the hands of the customer, and that of course drives the need for quality.

Which of the Following Is True About the Impact of Global