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Harvey loaned $450 to Chase and received a promissory note.Harvey is the:
Rivalry
The competitive relationship between businesses in the same industry, aiming to achieve higher sales, market share, and customer loyalty.
Competition
A scenario where two or more parties strive for a common goal which cannot be shared, such as market share, victory in a sport, or the acquisition of a contract.
Industry
Refers to the production of goods or services within an economy, typically classified into sectors based on their main source of revenue and activity.
Competitive Forces
Market dynamics that impact the competitive landscape, often analyzed through frameworks like Porter's Five Forces, including threats from new entrants, bargaining power of suppliers and buyers, threats from substitute products, and rivalry among existing competitors.
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