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New page: Competition is the efforts of multiple independent parties to achieve a common goal. As an economic term, competition refers to the rivalry between firms to sell the goods or services th...
Competition is the efforts of multiple independent parties to achieve a common goal.
As an economic term, competition refers to the rivalry between firms to sell the goods or services they provide. Economists generally classify different levels of economic competition by the following models:
Perfect Competition
Perfectly Contestable Market
Monopolistic Competition
Oligopoly
Cartel
Monopoly
As an economic term, competition refers to the rivalry between firms to sell the goods or services they provide. Economists generally classify different levels of economic competition by the following models:
Perfect Competition
Perfectly Contestable Market
Monopolistic Competition
Oligopoly
Cartel
Monopoly