Final answer:
True, the emergence of the global economy and technology are the two primary drivers of hypercompetition, as they have expanded markets and increased the scale of competition for businesses worldwide.
Step-by-step explanation:
The statement that the two primary drivers of hypercompetition are the emergence of the global economy and technology is true. The forces of globalization have dramatically broadened the competitive landscape, enabling businesses from around the world to compete in markets that were previously local or regional. Simultaneously, advancements in communications and information technology, such as the internet, have facilitated this global reach, allowing consumers and businesses to interact and transact on a global scale. These technological improvements support the creation of platforms like "business-to-business" websites that increase market access and competition.
Sectors such as retail and business supplies have seen a substantial increase in competition as a result of these shifts. For instance, local retailers now find themselves competing with suppliers from other countries, and businesses can now source their supplies globally, which can greatly affect local market dynamics. While these changes have opened up new opportunities for many, they also present challenges such as the need for firms to differentiate themselves and adapt to a more dynamic and competitive environment.