Question

The major factors that affect the degree of competition are

number of companies, amount of advertising, and number of factories.
number of companies, size of companies, and type of product.
number of companies, business costs, and product differences.
number of companies, business costs, and amount of advertising.

Answer 1

number of companies, business costs, and product differences.

Step-by-step explanation:

The price of the product in a market is influenced by the supply and demand of the product. Business competition refers to the competition that exists among the companies that deal with the same product or industry. Competition has a positive impact on the businesses. It help in engaging and escalating the business and promoting it in the market. The number of companies in a market and the cost of the products determine the competition in the market. The difference between the prices of the products also affects the degree of competition.