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Instructions: Please Define the Following Key Terms

question 35

Short Answer

Instructions: Please define the following key terms.Show Who? What? Where? When? Why Important?
-hieroglyphics


Definitions:

Competition

The rivalry among businesses to attract customers, increase sales and market share, and achieve a sustainable competitive advantage.

Fosters Efficiency

Encourages or promotes greater productivity and effectiveness in processes or systems.

Monopolistic Competition

A market structure characterized by many firms offering similar but not identical products, allowing for some degree of market power.

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