Answer:
Abed must earn 13.5% or $108 annual interest to cover the monthly fee.
Explanation:
Abed should earn minimum $9 of interest on deposit each month to cover the bank charges expense.
Average Monthly Balance = $800
Bank Charges = $9.00 per month
Monthly interest rate = (Monthly bank charges / Monthly average balance ) x 100
Monthly interest rate = ( $9.00 / $800 ) x 100 = 0.01125 x 100 = 1.125%
Annual Interest rate = 0.01125 x 12 = 0.135 = 13.5%
Annual Interest = $800 x 13.5% = $108
You play racquetball at a community club. You have two options for paying for court time. Option A: You pay $12 for court time each time you play. Option B: You buy a club membership for $120 and then pay $2 each time you play. a. Write and solve a linear system to determine the number of visits for which the cost would be the same for each option. b. For what numbers of visits is option B less expensive
Answer: y = 12x
Y = 2x + 120
a). X = 12
b). X= 14
Explanation: for the two options cost to be the same, you equate the two equations.
For the visit of option B to be less expensive, X will be greater than 12
Answer:
a) The answer is 12 visits (b) number of visits greater than 12
Explanation:
Option A = $12 per visit
Option B = $120 for membership $2 for each time you play
We have to equate the two options to get a linear system
Let each visit be x
A = 12x
B = 120 + 2x
equating A and B
12x = 120 + 2x
120= 10x
x = 12. The answer is 12 visits
b) the number of visits for option b is less expensive is any visit greater than the equilibrium cost for both options. example if I visit for a 13th time then
option A = 12 X 13 = 156
option B = 120 + 2(13) = 146
At the beginning of the month, the baking department of Mario Company had no beginning work in process inventory. At the end of the month, 800 units that were 75% complete with respect to materials were in the in the ending work in process inventory of its baking department. During the month, 1,200 units were completed and transferred to Finished Goods. Assuming that the weighted-average method is used, the equivalent units in the ending work in process inventory with respect to materials of the baking department equal:_______.
Answer:
600 Units
Explanation:
Given:
Opening balance of inventory = 0 units
Ending balance of the month = 800 units
Finished units during the month = 1,200 units
Completed work in progress = 75% = 0.75
Ending work in process inventory = ?
Computation of ending work in process inventory:
Ending work in process inventory = Ending balance of the month × Completed work in progress
= 800 × 0.75
= 600 units
Final answer:
The equivalent units in the ending work in process inventory with respect to materials, using the weighted-average method, are 600 units.
Explanation:
To calculate the equivalent units in ending work in process inventory with respect to materials using the weighted-average method in a baking department with no beginning inventory. At month's end, there are 800 units that are 75% complete. To find the equivalent units for materials for these partially complete units, simply multiply the number of units by the percentage completion for materials. Thus, the equivalent units with respect to materials in the ending work in process inventory are 600 (800 units × 75%).
An investment offers $157 per year forever, with the first payment occurring today. If the interest rate is 6.7% (per year, with annual interest compounding), the value of the entire investment today is $_____________.
Answer:
$2,500
Explanation:
we need to calculate the present value using the perpetuity formula plus the initial payment:
present value of this perpetuity = cash flow year 0 + (yearly cash flow / annual interest rate)
PV = $157 (earned today) + $157 / 6.7% = $157 + $2,343.28 = $2,500.28 ≈ $2,500
As Mallory was shopping for groceries, she discovered that the store was out of Canada Dry Ginger Ale. As a result, she simply chose the store's private-label ginger ale and continued shopping. What type of brand loyalty did Mallory exhibit?
Answer:
BRAND PREFERENCE.
Explanation:
Brand preference simply means when customers prefer a particular company's product even when there are other good options or alternatives.
It is a situation where a customer even though, has to go through more efforts or pay more still sticks to a company's product. It reflects brand loyalty.
Companies take brand preference very serious because it reflects customers loyalty to their brand, a success of their marketing tactics and strength of their brands. It also gives them a level of assurance when other competitors cuts price of their products or produce product that compete with theirs.
Therefore, the type of brand loyalty Mallory exhibits is BRAND PREFERENCE.
Answer:
Mallory exhibited Brand Preference
Donna works in an auditing firm and her manager is extremely happy with the quality of her work. When the department head sends out an e-mail highlighting the common errors made while auditing a client's files, Donna does not bother to read the e-mail. This is because she knows that those errors were not made by her. This scenario best exemplifies:_______.a. selective perception.
b. stereotyping.
c. self-monitoring.
d. projection.
Answer:
a. selective perception
Explanation:
Selective perception refers to only perceiving what an individual wants to, ignoring the viewpoint and ideas which oppose or challenge their own basis of perception.
In the given case, Donna who works in an audit firm was notified of the errors which as per her, she didn't commit. Instead of responding to such a mail or confronting the situation and explaining herself, she rather chose to ignore the mail altogether.
This classifies as a case for selective perception.
Treptron Inc., a software company, has a standing plan that details the specific set of steps to be undertaken when an employee delivers consistently poor performance during his or her probation period. Given this information, the standing plan in this scenario can be referred to as a(n) _____
Answer:
procedure
Explanation:
Procedure -
It refers to the various step , in a proper order , for the complete project or any activity , is referred to as a procedure .
The procedure is written in a very orderly fashion in order to explain all the steps in a very brief manner .
A proper set of instruction is very important to complete any specified task successfully .
Hence , from the given information of the question ,
The correct answer is procedure .
Tyco International once owned businesses that manufactured industrial tape, medical supplies, and security systems. Tyco International was an example of ______.
Answer:
Conglomerate
Explanation:
Tyco international is an example of a conglomerate because they are involved in several business entities such as manufacturing medical supplies, industrial tape and security systems at the same time under a corperate body.
Conglomerate are often multinational companies. They are usually very large company composed of several combined companies that is either formed by takeovers or mergers.
Conglomerate involves in production of products that are not necessarily related to one another mostly as in the case of Tyco international. The produce different product that are not related to each other.
Final answer:
Tyco International was an example of a conglomerate, which is a group of businesses that come together under one name and organization but produce or manufacture many different products.
Explanation:
Tyco International, which once owned businesses that manufactured industrial tape, medical supplies, and security systems, is an example of a conglomerate. A conglomerate is a group of businesses that come together under one name and organization but produce or manufacture many different products. Tyco International diversified its operations by acquiring companies in various industries to protect itself from decline in individual sectors.
From the perspective of the consumer, the factory system meant ________. Group of answer choices cheaper manufactured goods fewer choices in manufactured goods acute shortages of many manufactured items lower quality manufactured goods manufactured goods priced beyond the means of many consumers
Answer: Cheaper manufactured goods.
Explanation:
The factory system is a method of mass production of goods in an industrial way, which uses the line assembly system to manufacture multiple products at a lower cost, and in the least amount of time.
With this production system, the industrial era began in Great Britain, and today is the most widely used method of producing merchandise worldwide due to the low costs involved in the production.
I hope this information can help you.
Credit reports will include
a- your grade point average
b-names of family members
c-past due balances
d-library fines
past due balances
Answer: Option C.
Explanation:
Your credit report contains individual data, credit account history, credit requests and open records. This data is accounted for by your banks and loan bosses to the credit authorities.
These four classifications are: distinguishing data, credit accounts, credit requests and open records.
Which type of market research is data that an entrepreneur collects himself or herself; for example, from a survey of potential customers, and then analyzes?
Answer:
Primary Research Data.
Explanation:
Entrepreneur can collect the primary data by themselves. They can collect in numerous available methods and options. They can collect it either with the help of questionnaires or by taking interviews. Many more options like open ended questionnaires or close ended questionnaires then can be opted accordingly. Likewise, in-depth interviews can be conducted to collect more valuable insights about the customers which definitely can be very helpful fo the entrepreneurs in order to make strategical and tactical level decisions quite effectively.
Identify the mistakes managers typically make in the change part of the change management process. Check all that apply. Not anchoring changes in the corporation’s culture Not systematically planning for and creating short-term wins Declaring victory too soon Not removing obstacles to the new vision
Managers typically make mistakes in the change management process by not anchoring changes in the corporation’s culture, not systematically planning for and creating short-term wins, declaring victory too soon, and not removing obstacles to the new vision.
Explanation:The mistakes managers typically make in the change part of the change management process include:
Not anchoring changes in the corporation’s culture: Managers may fail to align the changes with the values, norms, and beliefs of the organization, leading to resistance and implementation challenges.Not systematically planning for and creating short-term wins: Managers should break down the change process into smaller milestones and celebrate early successes to maintain momentum and motivation.Declaring victory too soon: Managers may prematurely consider the change initiative successful without fully addressing all challenges, which can result in relapses and setbacks.Not removing obstacles to the new vision: Managers should proactively identify and address barriers that hinder the adoption and implementation of the desired change.Under a job-order system of cost accounting, the dollar amount of the general ledger entry involved in the transfer of inventory from work-in-process to finished goods is the sum of the costs charged to all jobs:_________.
Answer:
Under a job-order system of cost accounting, the dollar amount of the general ledger entry involved in the transfer of inventory from work-in-process to finished goods is the sum of the costs charged to all jobs - The entry to transfer inventory from WIP to FG is to debit finished goods and credit work-in- process.
Explanation:
AFLAC, Inc. is implementing a new sales program to encourage customer service representatives to offer additional insurance products to customers who call for service. This is an example of a CRM strategy to earn more revenue from existing customers by ________. A. promoting permission marketing B. cross-selling C. implementing sales force automation D. using a foot-in-the-door technique E. using predictive analytics
Answer:
B. cross-selling
Explanation:
Cross-selling is a business technique that consists in offering and selling a new product to an existing customer.
In this case, AFLAC, Inc is using cross-selling because its sales representatives will specifically target customers who already have some sort of service with the firm.
It is important for AFLAC, Inc to offer an additional product that actually enhances the value for the customer. Otherwise, the firm risks disrupting the relationship with its customers, and could even lose some of them.
The price of a bouquet of roses in France is 4 euros. Tom Smith, a frequent international traveler found that a similar bouquet of roses cost only 3 euros in Germany. A benefit of adopting the euro as a common currency is that it
A benefit of adopting the euro as a common currency is that it makes it easier to compare prices across Europe.
Explanation:When the same currency type is used in different group of people or different geographic locations, it refers to the common currency. In European Nations the common currency that is being used in Euro and in U.S the common currency used is dollar. There are many benefits that are associated with the usage of common currency.
It helps in reduction of transaction cost, Price transparency, expands markets, enhances the currency stability,etc.In the example given, the prices of roses at different regions of Europe were found to be different. The prices of the rises are expressed in Euros. The use of common currency here facilitates and makes easier to compare prices across Europe.
A benefit of adopting the euro as a common currency is that it makes it easier to compare prices across Europe.
What is Currency?This is defined as a system of money in general use in a particular country at a specific time.
Adoption of the euro made it easier for Tom Smith to compare the prices of the rose in the two European countries.
Read more about Currency here https://brainly.com/question/1306721
The Patriot Act requires that telecommunications carriers and manufacturers of telecommunications equipment modify and design their equipment, facilities, and services to ensure that they have built-in surveillance capabilities.1. True2. False
Answer:
2. False
Explanation:
It is false that a patriots act needs the telecom carriers and the manufacture of the telecom equipment to modify and design the facility and services to ensure that they have built-in surveillance capabilities that affect the telecommunication system of the country.A price ceiling set below an equilibrium price tends to cause persistent imbalances in the market because a. Quantity demanded exceeds quantity supplied but price cannot rise to remove the shortage. b. Quantity supplied exceeds quantity demanded but price cannot fall to remove the surplus. c. Quantity supplied exceeds quantity demanded but price cannot rise to remove the shortage. d. Quantity demanded exceeds quantity supplied but price cannot fall to remove the surplus.
Answer:
a. Quantity demanded exceeds quantity supplied but price cannot rise to remove the shortage.
Explanation:
Price ceiling is the maximum amount that can be charged for a good or service. Price ceiling is usually set by the government or an agency of the government.
For price ceiling to be binding, it should be set below equilibrium price.
When there's a price ceiling below equilibrium price, quantity supplied would fall because market price is below equilibrium price. The fall in quantity supplied would lead to an excess of quantity demanded over supply and as a result there would be shortages.
Market forces cannot act to eliminate the shortage (increase the price) because of the price ceiling.
I hope my answer helps you
Justin deposits $4,000 into an IRA account that earns an annual interest rate of 6.5%. If he makes no additional deposits, how much money will he have in the account one year later?
Answer:
The Future value at year time is $4,260
Explanation:
The future value at the end of the year one can be found by using the compounding formula which is as under:
Future Value = Present Value * (1 +r)^n
Future Value = $4,000 * (1.065)^ 1 = $4,260
A ________ may be desirable as a market entry strategy if one company does not have the necessary financial, physical, or managerial resources to enter a foreign market alone, or if the arrangement is required by the foreign government.
Answer:
joint venture
Explanation:
A joint venture is basically a business entity set up by two other companies (or even more companies that associate with each other) to serve a specific market or accomplish a specific project or task, but the two parent companies continue to operate separately form each other. For example, in China the government used to require that foreign companies form joint ventures with local companies in order for them to start operating there.
Under the gold standard of currency exchange that existed from 1879 to 1914, an ounce of gold cost $20.67 in U.S. dollars and £4.2474 in British pounds. Therefore, the exchange rate of pounds per dollar under this fixed exchange regime was:________.A) £4.8665/$.B) £0.2055/$.C) always changing because the price of gold was always changing.D) unknown because there is not enough information to answer this question.
Answer:
B. £0.2055/$
Explanation:
Given that
An Ounce of gold cost = $20.67 in US dollars
An ounce of gold cost = £4.2474 in British pounds.
Therefore,
Exchange rate per 1 dollar
= 4.2474 ÷ 20.67
= 0.20548
= 0.2055.
This means that 1 dollar is equivalent to 0.2055 British dollars at that time using that exchange rate.
£0.2055/$
Under the gold standard, the exchange rate of pounds per dollar was determined by dividing the fixed gold prices of both currencies. For an ounce of gold at $20.67 and £4.2474, the exchange rate was approximately £0.2055 per dollar.
Explanation:Under the historical gold standard of currency exchange between 1879 and 1914, the price of an ounce of gold was fixed at both $20.67 in the United States and £4.2474 in British pounds. To find the exchange rate of pounds per dollar, we perform a simple division calculation of the two fixed gold prices.
The calculation is as follows:
Divide the British pound gold price by the American dollar gold price (£4.2474 / $20.67).This division equals approximately £0.2055.Therefore, the exchange rate was £0.2055 per US dollar during this fixed exchange regime.The exchange rate under the gold standard was stable and determined by the relative gold content in the currencies of different countries. It wasn't always changing, as the gold prices were themselves fixed. This system provided a measure of international monetary stability until the onset of World War I, whereafter many countries suspended the gold standard to print more of their currencies to pay for military expenditures.
Mb inc. has an independent, permanent work group that develops and revises codes of ethics, suggests ways the organization can contribute toward the environment, and regularly reviews other specific issues and concerns within the organization. this is an example of a _____.
Answer:
The correct answer is Committee.
Explanation:
A committee within the organizational structure refers to a group of employees that focus on some topic of relevance to the organization. These employees emerge as representatives of the total number of workers, and are democratically elected for a certain time to perform these functions. What is sought with this type of structure is to have greater communication and to have the ability to propose and request changes for the benefit of all.
Alex Smith rents storage space to college students who go home for the summer but do not want to haul all of their property home and back. The business is profitable during the summer months, but when the storage space is unoccupied in the off-season, Alex loses money. Which of the following characteristics of service is most likely the source of Alex's problem?a) intangibility
b) perishability
c) inconsistency
d) variability
e) inseparability
Answer:
d) variability
Explanation:
Variability is the quality of a service that does not follow a fixed, or predictable pattern, following instead a changing (or variable), or unpredictable pattern.
Seasonality is a type of variability that occurs when a business is subject to very rigid time constraints: in some periods of time it booms, and in other periods, it busts.
Alex's business is seasonal because it only becomes profitable during the summer months, while the other three seasons represent a net loss for him.
Furniture Store runs an ad in the local Sunday newspaper announcing a Veteran's Day special on a Brandname chairside table. The ad states the price of the table, the dimensions, the SKU#, and what the table is made of. Other parts of the ad indicate the store's location, the hours, and a website where purchases may be made online. If Joe goes into the store sometime during the day on Veteran's day and tries to buy a Brandname chairside table, but is told the store has sold out of that particular table, according to the court in Lefkowitz v. Great Minneapolis Surplus Store, Inc.:
Answer:
The store is unlikely to have been in breach of the contract because while the circumstances of the case surrounding its advertising suggest that the advertisement was meant to be like other advertisements.
The offer to the public to make a bid, as well as the store did not approve or accept Joe's request.
On October 1, Year 1, Little Co. enters into a contract with a customer to build a factory on the customer’s land for $1,000,000. The construction of the factory is expected to be completed at the end of Year 5. Based on Little’s accounting policies, the progress toward completion of the factory is measured using the input method based on costs incurred. During Year 1, Little incurred $450,000 in costs in respect to this contract and billed the customer for $600,000. At the end of Year 1, Little cannot reasonably est.
The firm's accounting profit was $50,000, calculated by subtracting explicit costs from sales revenue. To find the economic profit, which was $20,000, the opportunity cost of not renting out the land must also be considered and subtracted from the accounting profit.
To calculate a firm's accounting profit, we deduct the total explicit costs from its total sales revenue. In the given scenario, the firm's sales revenue was $1 million, and its explicit costs for labor, capital, and materials were $600,000, $150,000, and $200,000 respectively.
Therefore, the accounting profit equals $1,000,000 (sales revenue) - $600,000 (labor) - $150,000 (capital) - $200,000 (materials) = $50,000.
For the economic profit, we consider both explicit costs and implicit costs, such as opportunity costs. The firm could have rented out the land where its factory is situated for $30,000 per year, which is an opportunity cost. Hence, the economic profit is the accounting profit minus the opportunity cost, which is $50,000 (accounting profit) - $30,000 (opportunity cost) = $20,000.
Marissa and Jessica, sisters born two years apart, grew up in an impoverished, violent neighborhood. As adults, Marissa is chronically jobless and is addicted to drugs while Jessica is a professor of economics at a community college. What might explain their different life outcomes?
Answer:
differential susceptibility
Explanation:
Differential susceptibility model was proposed by Jay Belsky, this theory explains the way two different individuals respond to the effect of their environment. In this theory there is the plastic group (which Marissa belong to) and the fixed group (which Jessica belong to). The plastic group are largely affected by the positive and negatives in their environment when compared to the fixed group.
The theory explains that people do not vary in the level at which they become vulnerable to the negative effect in their environment but that generally it is based on their developmental plasticity.
Natalie, a manager at a branch of Blue Soul Spa, leads all the ten employees working in her branch. She reports directly to the owner of Blue Soul Spa. Thus, in the context of span of control, Blue Soul Spa is a tall organization.1. True2. False
Answer:
False
Explanation:
Span of control refers to the number of subordinates that report to a supervisor or manager within an organization. In the context of span of control, this organization would be considered a flat organization since it has 10 subordinates per supervisor. Tall organizations have 1-4 subordinates per supervisor.
The given statement is false. Blue Soul Spa, in the given context, has a flat organizational structure, not a tall one, since there are fewer levels of hierarchy between the front line employees and the top level.
Explanation:The statement is False. The span of control refers to the number of subordinates a manager or supervisor can efficiently and effectively direct. In the given scenario, Natalie, the manager at a branch of Blue Soul Spa, only has ten employees under her, and she directly reports to the owner. This shows a relatively shallow or flat hierarchy—indicative of a flat organization—not a tall one. A tall organization would have several layers of management between frontline employees and the top level, resulting in a 'taller' hierarchy. In recent years, many organizations have shifted away from such hierarchy and towards a more flat span of control to facilitate better communication and teamwork.
Learn more about Organizational Structure here:https://brainly.com/question/23967568
#SPJ12
The market for land is competitive and in equilibrium at the rental rate of $500 per acre and the supply of land is perfectly inelastic at 1000 acres. If the demand for land falls and the rental rate falls to $400 per acre, the total economic rent on this land _____ by _____.
Answer:
Falls by $100,000
Explanation:
In this question, we are asked to calculate and state what happens when demand for land falls and as a result, there is also a fall in rental rate.
Firstly, we cost the total of 1000 acres. The price of 1000 acres is simply the multiplication of the 1000 acres by the $500 unit price= 500 * 1,000 = $500,000
We now calculate the price or worth of the land when demand falls
This is mathematically equal to 400 * 1000 = $400,000
Now, the net economic rent fall would be $500,00 - $400,000 = $100,000
Hence, there would be a fall of $100,000 as the demand for land falls
Of the approaches to pursuing international markets, developing a ________ involves the greatest commitment and risk. joint venture strategic alliance franchise foreign subsidiary
Answer:
D. Foreign Subsidiary
Explanation:
Foreign Subsidiary is a company either party owned or fully owned by another large corporation whose headquarters is based in another country. It implies that the company or organization did not start development or operations organically un the country they operate. Development of foreign subsidiaries is one of the main ways of pursuing international markets. It involves the greatest risk and commitment as against other options listed in the question due to factors like cost and time of establishing a foreign Subsidiary, compliance risk, taxation, immigration rules, securing secure office spaces and accommodations for employees, required investment and so on. These are things a company won't have to consider if they decides in joint venture, strategic alliance or franchising when pursuing international markets.
Developing a foreign subsidiary involves the highest commitment and risk among the approaches to pursuing international markets because it requires significant investment and exposes the company to the risk of instability in the foreign country.
Explanation:Of the approaches to pursuing international markets, developing a foreign subsidiary involves the greatest commitment and risk. This is because it requires a substantial investment in creating a separate entity in the foreign country, which includes not just setting up the infrastructure but also complying with the laws, regulations, and customs of the foreign country.
This also includes the potential risk of political, economic, or social instability in that country directly affecting the subsidiary’s operations, thereby leading to loss of investment. In comparison, other approaches such as a joint venture, strategic alliance, or franchise, although they have their risks, do not require the same level of financial commitment and do not expose the company to the same level of risk, as the company is not solely responsible for the venture’s success.
Learn more about Foreign Subsidiary here:https://brainly.com/question/17285115
#SPJ3
In 2010, U.S. gross domestic product (GDP) was roughly $14.6 trillion. Given that the U.S. population was roughly 308 million people, per capita GDP in the United States in 2010 was roughly:_______.a) $4,760 b) $47,403 c) $0.22. d) $475,990 e) $22,000
Answer:
B) $47,403
Explanation:
GDP per capita = total GDP / total population
GDP per capita in 2010 = $14,600,000,000,000 / 308,000,000 people = $47,402.60
This is the GDP per capita in nominal or current dollars, not the real GDP per capita which is calculated using base dollars. The GDP per capita is useful to compare how different economies are performing, but it is not a good indicator of individual wealth within a country.
Babe Ruth, the famous baseball player, earned $80,000 in 1931. Today, the best baseball players can earn more than 400 times as much as Babe Ruth earned in 1931. However, prices have also risen since 1931. We can conclude that:
Answer:
D) one cannot determine whether baseball stars today enjoy a higher standard of living than Babe Ruth did in 1931 without additional information regarding increases in prices since 1931.
Explanation:
The value of money changes over time due to inflation and to be able to compare someone's salary back in 1931 with a current salary we would need information regarding how inflation affected the purchasing power of the US dollar. For example, back then a new car costed less than $1,000. Since Babe Ruth was extremely famous and successful, his salary was probably huge compared to the average salaries of back then.
Final answer:
The question about Babe Ruth's salary compared to modern player salaries reflects a significant increase in the economic value of top athletes despite inflation. It highlights the impact of sports economics and societal changes on athlete compensation.
Explanation:
Babe Ruth, the famous baseball player, earned $80,000 in 1931. Today, the best baseball players can earn more than 400 times as much as Babe Ruth earned in 1931. However, prices have also risen since 1931. We can conclude that: the economic value of elite athletes has dramatically increased, despite inflation and changes in the monetary value over time.
This reflects not just a change in sports economics but in how society values entertainment and sports figures. The rise in player salaries since the abandonment of reserve clauses shows a shift towards a more player-favoring market, allowing athletes to command salaries closer to their marginal revenue product (MRP). The historical context of Babe Ruth's career and subsequent changes highlight the evolution of sports into significant cultural and economic phenomena.
Two firms, such as a small local, family-owned Italian restaurant and Olive Garden, share few markets and have little similarity in resources, but are nonetheless direct and mutually acknowledged competitors. true or false
Two firms, such as a small local, family-owned Italian restaurant and Olive Garden, share few markets and have little similarity in resources, but are nonetheless direct and mutually acknowledged competitors - False
Explanation:A state of rivalry that exists between any company that sells identical or similar products and services refers to the competitors. There are two types of competitors such as direct and indirect competitors. Direct competitors are the firms that sells same kind of goods and services. They also focus on the same market segment and also customers.
Indirect competitors refers to those companies that sells similar goods and services but, they will not be having similar end goals. The given statement is false since the firms given are sharing only few of the markets and also have less similarity in the resources. Hence they cannot be competitors either directly or indirectly.