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. indirect competition is a business whose services are different from yours but satisfy the same need. direct competition is a company that offers the same thing you offer. a business is not affected by knowing the strengths and weaknesses of competitors.

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. indirect competition is a business whose services are different from yours but satisfy the same need. direct competition is a company that offers the same thing you offer. a business is not affected by knowing the strengths and weaknesses of competitors.

Answer

Brief Explanations:

  • "All companies that sell goods and services are indirect competitors." is false as there are direct competitors too.
  • "Indirect Competition is a business whose services are different from yours but satisfy the same need." is true by the definition of indirect competition.
  • "Direct Competition is a company that offers the same thing you offer." is true as per the concept of direct competition.
  • "A business is not affected by knowing the strengths and weaknesses of competitors." is false as understanding competitors is crucial for business strategy.

Answer:

  • All companies that sell goods and services are indirect competitors: False
  • Indirect Competition is a business whose services are different from yours but satisfy the same need: True
  • Direct Competition is a company that offers the same thing you offer: True
  • A business is not affected by knowing the strengths and weaknesses of competitors: False