Product Market Activity and Equity Return Goods


SKU: 9781761937491
Author: E, Elio
Publication Date: 08/08/2023
Publisher: Elio Endless Publishers
Binding: Paperback
Media: Book
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In the field of economics, competition refers to a scenario in

which many economic companies [Note 1] compete with one

another to obtain commodities that are limited by modifying one

or more of the following components of the marketing mix: price,

product, promotion, or place. In the traditional school of economic

thought, competition drives commercial enterprises to produce

new goods, services, and technologies. These advancements would

provide customers with a wider range of options and higher quality

goods. When there is a greater variety of a product available on the

market, prices for those products are often cheaper in comparison to

what they would be if there was either no competition (a monopoly)

or very little competition (an oligopoly).

The amount of competition that is present in the market is determined

by a range of factors, including the number of firms, the

obstacles that stand in the way of new firms entering the market,

the information that is available, and the availability and accessibility

of resources.