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Clarified last statement - cartels are not technically a type of market structure, but rather a phenomenon that arises under oligopoly
'''Competition''' is the effort of multiple independent parties working against one another to achieve a goal.
'''Competition''' is the effort of multiple independent parties working against one another to achieve a 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]] and [[monopoly]].
As an [[economic]] term, competition refers to the rivalry between firms to sell the [[goods]] or services they provide. Economists generally consider the level of competition in an industry to be intrinsically related to that industry's [[market structure]].
[[Category:Economics]]
[[Category:Economics]]