What is meant by the term 'market competition'?

User Avatar

Wiki User

2006-06-16 18:09:24

Best Answer

That means that others are putting pressure to keep the prices down. If two or more companies manufacture or sell similar products, both are motivated to keep the price down so that they can compete.

User Avatar

Wiki User

2006-06-16 18:09:24
This answer is:
User Avatar
Study guides

What are the feasibility study and define each

What are the principles of ergonomics

Who organizes manages and assumes the risk of a business or enterprise

Example of feasibility study for a business like soap making

See all cards
64 Reviews

Add your answer:

Earn +20 pts
Q: What is meant by the term 'market competition'?
Write your answer...
Still have questions?
magnify glass
Related questions

What is meant by perfect knowledge of the market in the perfect competition?

Perfect knowledge means that the customers know the past, present and the future status of the market.

What is meant by term value-driven?

It is a market driven by reasonable market prices that satisfy the needs of the customer.

What is the meaning of anti trust?

Anti trust is a law term and refers specifically to competition law ensuring that market competition is regulated. It prevents one company having a monopoly of a particular market.

What is meant by the term duopoly?

A monopoly has one producer in a market and duopoly has two.

What market is pure competition?

Pure Competition is a market situation where there is a large number of independent sellers offering identical products.Pure competition is a term for an industry where competition isstagnant and relatively non competitive. Companies within the pure competition category have little control of price or distribution of product. Advertising, market research, and product development play a very little role in these companies/industries.

What did monopolies and trusts reduce during the late 1800s?

Monopolies limited competition in a certain market. Limited competition meant that the company could choose any price they wanted.

What is meant by the term hammering?

There is no information for the term hammering. However, the term "Hammered" means to be very drunk, intoxicated, it can also mean badly beaten at a game or competition.

What is meant by the term market in the subject of market segments?

market portion. Lets say real estate was the market and you specialize in unit developments then your market segment would be unit developments

What market structures can exist in a free market?

Oligopoly, Pure competition, Monopolistic competition

What are the types of competition in the market?

Close Competition Distant Competition Direct Competition Indirect Competition

What is meant by the term a competitive market?

there are many producers selling the same products at similar prices.

What is the market structure with the most competition?

Perfect Competition

People also asked