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A '''price war''' is a battle between competitors in business to undersell each other's prices, such that the prices fall for the consumers. While this is good for the public, it can result in [[deflation]] if done on a large scale and can cause one of the competitors to go out of business.
A '''price war''' is a battle between competitors in business to undersell each other's prices, such that the prices fall for the consumers. While this is good for the public, it can result in [[deflation]] if done on a large scale and can cause one of the competitors to go out of business.
A example of a price war in May 2017 is [[Amazon]] and [[Wal-Mart]] competing with other by lowering the threshold amount for free two-day shipping on online orders placed with them.
A example of a price war in May 2017 is [[Amazon (company)|Amazon]] and [[Wal-Mart]] competing with other by lowering the threshold amount for free two-day shipping on online orders placed with them.
[[category:Economics]]
[[category:Economics]]