Difference between revisions of "Competition"
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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...) |
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Revision as of 20:59, May 23, 2007
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