Difference between revisions of "Competition"
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Competition is the efforts of multiple independent parties to achieve a common goal. | 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 and 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]] and [[Monopoly]]. |
[[Category:Economics]] | [[Category:Economics]] | ||
Revision as of 05:23, August 24, 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 and Monopoly.