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define compotition in the business world

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15y ago

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Competition in business is important for several reasons. First, competition drives innovation. Second, business competition brings better quality. Finally, business competition keeps price inflation in check.


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It is not ethical or legal to achieve a quick monopoly in the business world. Monopolies are harmful to competition and consumers. It is important to focus on creating a successful business through innovation, quality products, and fair practices.


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nature and effects of competiton?


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What are the pros and cons of competition in the business world?

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Why is competition so important in business?

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