Question

Which of the following does not help in determining whether a business thrives? Markets. Free enterprise. Competition. Lack of innovation.

Answer 1

Answer:

Lack of innovation

Explanation:

Lack of innovation doesn't tell about the lower demand of product because this is analyzed by market analysis, competitor analysis and Pestle factors. So the innovative product might fail in the existing market because the purchasing power of the most of customers is not feasible to target for the product sales generation.

However, market analysis tells about the customer, supply chain implications, distributors, etc. which presents a wider glance of the atmosphere in which the product would be introduced.

Furthermore, the free enterprise tells about the legislation is not limiting or obstacle for the use of product in the society.

Answer 2

Answer:

Lack of innovation.

Explanation:

Any business is subject to certain market conditions that will determine its success, and the most important ones are:

• the markets at which they participate, e.g. size of the markets, niche products vs convenience, etc.
• free enterprise (free market economy) which allows private parties (producers and consumers) to allocate resources at their convenience, and much more efficiently than command economies.
• competition will limit your supplier power and increases the consumers' buying power. Generally the more competition, the harder it is to make economic profits.