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Question
Which of the following explains why many small businesses struggle to compete with larger firms?(1 point)
Responses
Small businesses are unable to sell their goods at the higher prices set by larger firms.
Small businesses are unable to sell their goods at the higher prices set by larger firms.
Small businesses are unable to offer the same variety of products that larger firms are able to produce.
Small businesses are unable to offer the same variety of products that larger firms are able to produce.
Small businesses are unable to specialize to the degree that larger firms are able to.
Small businesses are unable to specialize to the degree that larger firms are able to.
Small businesses are unable to provide the kinds of products that consumers want.
1 answer
The response that best explains why many small businesses struggle to compete with larger firms is:
Small businesses are unable to specialize to the degree that larger firms are able to.
Larger firms often have more resources, allowing them to achieve economies of scale, specialize in production, and operate more efficiently, making it difficult for small businesses to compete on price and variety.
