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. indirect competition is a business whose services are different from yours but satisfy the same need. 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. all companies that sell goods and services are indirect competitors. 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. indirect competition is a business whose services are different from yours but satisfy the same need. 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. all companies that sell goods and services are indirect competitors. true false

Answer

Brief Explanations:

  • Indirect competitors offer different products or services but satisfy the same customer need, so the first statement is True.
  • Knowing competitors' strengths and weaknesses is crucial for a business to strategize, so the second statement is False.
  • Direct competitors offer the same products or services, so the third statement is True.
  • Not all companies selling goods and services are indirect competitors; there are direct competitors too, so the fourth statement is False.

Answer:

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