What is competition?

Economics: Rivalry in which every seller tries to get what other sellers are seeking at the same ...

	Wednesday, March 25, 2015 competition   Term of the Day competition Economics: Rivalry in which every seller tries to get what other sellers are seeking at the same time: sales, profit, and market share by offering the best practicable combination of price, quality, and service. Where the market information flows freely, competition plays a regulatory function in balancing demand and supply. Learn more about this term Usage Example The company was under serious competition from overseas companies which could manufacture a similar product for much less thanks to lower employee wages.   Featured Article How to Find an Angel Investor If your business is nursing a new idea along but you need additional funding to take it to the next level, you have several options. You could get a traditional ... Read this article   Voice Your Opinion What job would you like to try for a day?   Take us with you! Download the BusinessDictionary app today.
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