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Competition

memorize.ai (lvl 286)

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9 cards

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Section 1

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Direct Competition

Front

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Competition Prep

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Last updated

6 years ago

Date created

Mar 1, 2020

Cards (9)

Section 1

(9 cards)

Direct Competition

Front

Rivalry between or among businesses that offer similar types of goods or service

Back

Non-price competition

Front

Rivalry between businesses that involves factors other than price

Back

Regulated Monopoly

Front

Business that is the only available source of their product/service so they are heavily regulated by government

Back

Oligopoly

Front

A few large firms producing a similar product dominate a market.

Back

Price competition

Front

Rivalry between businesses that focuses on the use of price to attract customer

Back

Monopoly

Front

Market controlled by one Company, and there are no substitute goods or services readily available

Back

Indirect Competition

Front

Rivalry between or among businesses that offer different types of goods or services

Back

Perfect (Pure) Competition

Front

Many firms, identical product, high ease of entry.

Back

Monopolistic Competition

Front

Many firms, different product, high ease of entry.

Back