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