Final answer:
The assertion that a manager cannot earn as much as their clients is false, as managerial compensation varies widely. The claim that proprietors in proprietary colonies had no responsibilities beyond profit collection is false; they had multiple responsibilities. True, competition can reduce profits and lead to business failure, with workers risking income loss or job loss.
Step-by-step explanation:
Business Managers vs. Successful Clients
The statement that a strong manager cannot expect to earn, over the long term, an income comparable to one of his or her successful clients is false. In many cases, successful managers can command high salaries, bonuses, and other forms of compensation that may rival or even exceed the earnings of their clients. However, this greatly depends on the industry, the manager's position, the success of the company or clients they manage, and various other factors.
Proprietors in Proprietary Colonies
Regarding proprietary colonies, the assertion that Proprietors have no responsibilities except to collect the profits is false. Proprietors had multiple responsibilities, including managing the colony's affairs, creating laws, and overseeing the overall well-being of the settlements they governed.
Competition in Business
It is true that competition from firms with better or cheaper products can reduce a business's profits, potentially driving it out of business. This competitive pressure can result in income loss or job loss for the workers of the affected company. Thus, businesses must strive to remain competitive in quality and pricing to maintain profitability and market share.