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How can competition be used positively in business?

Answer and explanation

Correct answer: By improving product, service, and price

Competition gives an enterprise a reason to understand customer expectations and compare its own performance with alternatives. It can respond through better quality, helpful service, fair pricing, or useful innovation. False complaints and arguments are unethical, while reducing quality weakens the business. Thus, option A is the constructive response.

Related tags

CompetitionQualityServiceEntrepreneurship DevelopmentMsme And Business EntrepreneurshipBusiness StudiesClass 11 Mcq

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