for each statement about direct competition and indirect competition, select true or false. note: you will…

for each statement about direct competition and indirect competition, select true or false. note: you will receive partial credit for each correct selection. all companies that sell goods and services are indirect competitors. a business is not affected by knowing the strengths and weaknesses of competitors. direct competition is a company that offers the same thing you offer. indirect competition is a business whose services are different from yours but satisfy the same need. true false

for each statement about direct competition and indirect competition, select true or false. note: you will receive partial credit for each correct selection. all companies that sell goods and services are indirect competitors. a business is not affected by knowing the strengths and weaknesses of competitors. direct competition is a company that offers the same thing you offer. indirect competition is a business whose services are different from yours but satisfy the same need. true false

Answer

Brief Explanations:

  1. Not all companies selling goods and services are indirect competitors. Direct competitors also exist, so the first statement is false.
  2. Knowing competitors' strengths and weaknesses is crucial for a business to strategize, so the second statement is false.
  3. Direct competition indeed involves companies offering the same thing, so the third statement is true.
  4. Indirect competition is when businesses offer different things but satisfy the same need, so the fourth statement is true.

Answer:

  1. False
  2. False
  3. True
  4. True