Due to limited resources, a consumer decided to serve Hawaiian Punch to a New Year's Eve party crowd instead of Korbel champagne. As a result of this action, Korbel and Hawaiian Punch can be viewed as ____ competitors.
A)generic
B)product
C)total budget
D)oligopolistic
E)pure

Question

Quizplus · Accepted Answer

Generic competitors are those that satisfy the same basic need or want, even if they are not the same type of product. In this case, both Hawaiian Punch and Korbel champagne serve the purpose of providing a beverage for a party, making them generic competitors.

Due to Limited Resources, a Consumer Decided to Serve Hawaiian