Question

If your company has a lot of competitors, what does that do to your demand?

A.Makes it less elastic
B.Makes it more elastic
C.Makes it less need-based
D.Makes it more need-based

Answer 1

I just took this quiz and the answer is "Makes it more elastic" I hope this helped

Answer 2

The best answer is C. If your company has a lot of competitors, it makes the company less need-based. Having a lot competitors would mean consumers have many choices to choose from. The consumers view on the products or services offered a a need will decrease. Also having a lot of competitors will make the consumers think that the products is easily accessible.