When firms open in international markets, the competition is likely to be fromGroup of answer choicesfirms that receive government protection.substitute products.local firmsall of the aboveoptions A and B only
Question
When firms open in international markets, the competition is likely to be fromGroup of answer choicesfirms that receive government protection.substitute products.local firmsall of the aboveoptions A and B only
Solution
When firms open in international markets, the competition is likely to be from all of the above. This includes firms that receive government protection, substitute products, and local firms. Each of these groups presents a unique set of challenges and competition for firms entering international markets. Government-protected firms may have advantages in terms of resources and regulatory support. Substitute products can offer alternatives to consumers, potentially reducing demand for a firm's product. Local firms may have a better understanding of the market and customer needs and preferences. Therefore, firms entering international markets must be prepared to compete with all these groups.
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