The multiple choice questions start with this question. Before answering a multiple choice question, be sure you have read all of the choices. Select the best possible choice for each question. Here is the first question: One important issue to consider in order to compete effectively is to Question 20 options: know the personal habits of the individuals who run competing firms (such as what movies they like). focus solely on what your competitors are doing. use non-price strategies (such as differentiating your product). lobby the government to protect your firm from new entrants into the industry