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The rivalry between companies selling similar products and services is called:
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1. Introduction to Microeconomics
Introduction to Economics
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Which of the following is a benefit that businesses receive from using the internet?
A
Increased government regulation
B
Reduced access to market information
C
Ability to reach a larger customer base
D
Higher transportation costs
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Step 1: Understand the role of the internet in business operations. The internet primarily serves as a tool to improve communication, information access, and market reach.
Step 2: Analyze each option in terms of how the internet affects business benefits. Increased government regulation is generally not a benefit but a potential cost or constraint.
Step 3: Consider the option 'Reduced access to market information.' The internet actually increases access to market information, so this is not a benefit businesses receive from using the internet.
Step 4: Evaluate 'Ability to reach a larger customer base.' The internet allows businesses to connect with customers beyond their local area, expanding their market reach significantly.
Step 5: Assess 'Higher transportation costs.' The internet itself does not increase transportation costs; in many cases, it can reduce costs through better logistics and digital delivery methods.
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