Competition among firms within an industry best defines the term ________.

Question

Quizplus · Accepted Answer

The term that best defines competition among firms within an industry is rivalry, as it refers to the ongoing battle for market share between competing firms. A substitute is a product or service that can be used as an alternative to another, while a threat refers to something that could potentially harm a company's financial performance. An opportunity is a favorable condition that a company can take advantage of to improve its position.

Competition Among Firms Within an Industry Best Defines the Term