Businesses that operate in an environment where success or failure is determined by how well they match and counter the offerings of competitors are operating under _____.
A)the private enterprise system
B)a social democracy
C)a monopoly
D)state ownership

Question

Quizplus · Accepted Answer

The private enterprise system involves competition among businesses and the goal of achieving success by outcompeting rivals. This means businesses must be focused on matching and countering the offerings of competitors in order to succeed. Social democracy, monopoly, and state ownership do not necessarily involve competition among businesses as a determining factor for success or failure.

Businesses That Operate in an Environment Where Success or Failure