LESSON 3

MODULE 2

FLORA MAE MASAYAO BSE-3A

APPLICATION

1. Compare and contrast the different levels of competition

In the world of economics, the competition between businesses is not

always the same or level. Certain fields of industry have very different
types of markets than the others. Where one business could find itself in a
field of competition where the playing field is leveled and easy to gain a
foothold within, others find themselves in playing fields that are heavily
stacked to favor one (or several large), industrial player. there are three
levels of competition the need competition refers the sales substitutes
each other. product competition competes on the same products with one
class of product and last is brand competition to identify the target market
and also the target audience.

2. Is competition a motivation? defend your answer.

Yes, competition is not just about winning, it is also one way to motivate
and inspire us to become better. If you know that you are not competing
with anyone else then there is no point in becoming better if you are
already the best but if you see someone who is better than you, you start
to have a mindset thinking to be better than that person or surpass him.

3. What do you mean by this military theory,’ conquering a niche requires

fewer resources than conquering an entire market’’?

4. Which of the following would you regard as a substitute for a laptop

computer and which may be complements? why?
If I would regard as a substitute for a laptop computer, I will substitute
desktop computer because desktop computer generally stays wherever
they are set up. The processing power capacity makes up for the lack of
portability and high-powered hardware desktop computers generally
outperform laptops.