Froggy Jumps Tech and Competition QuizOnline version Test your knowledge on technology and competition in business with this quiz game! by sarah ayyad 1 What is the term for the practice of using technology to gain a competitive advantage in business? a Market research b Cost reduction c Technological innovation 2 Which of the following is an example of a technological barrier to entry? a Patent protection b Low consumer demand c Lack of skilled workforce 3 What is the term for a company that dominates a particular market or industry? a Competitor b Market leader c Start-up 4 Which of the following is NOT a way technology can impact competition? a Increasing product differentiation b Decreasing customer loyalty c Lowering barriers to entry 5 What is the term for the process of developing new technology-based products or services? a Technological innovation b Market research c Cost reduction 6 What is the term for the practice of imitating or replicating another company's technology? a Cost reduction b Technology diffusion c Market research 7 Which of the following is NOT a factor that influences competition in the technology industry? a Consumer preferences b Government regulations c Technological advancements 8 What is the term for the process of bringing a new technology-based product or service to market? a Cost reduction b Technology commercialization c Market research 9 Which of the following is an example of a technological advancement that can disrupt an industry? a Manual labor b Artificial intelligence c Traditional marketing 10 What is the definition of competitive environment? a The legal framework that regulates competition. b The process of collaborating with competitors. c The market conditions in which businesses operate and compete. 11 What are the main factors that influence the competitive environment? a Market structure, industry rivalry, and buyer power. b Government regulations, technological advancements, and social trends. c Supplier power, substitute products, and entry barriers. 12 What is buyer power? a The ability of customers to influence the price and terms of a product or service. b The government's control over consumers. c The power of suppliers to control the market. 13 What is the purpose of competitive analysis? a To determine the market demand for a product. b To set prices and profit margins. c To identify strengths and weaknesses of competitors. 14 What is a substitute product? a A product that can be used as an alternative to another product. b A product that is only available in limited quantities. c A product that is sold at a lower price than its competitors. 15 What is the role of competition in a business? a To drive innovation, improve quality, and lower prices. b To create monopolies and control the market. c To increase government intervention in the economy.
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