What Is Time-Based Competition and Why It Is Important for a Company's

question 40

Essay

What is time-based competition and why it is important for a company's success?

Grasp the significance and outcomes of major tax cuts on the economy and budget deficits.

Describe the goals of fiscal policy and the concept of national debt.

Discern the implications of foreign ownership of national debt.

Understand the repercussions of attempting to rapidly pay off the national debt and the effects of fiscal policy measures during recessionary periods.

---

Definitions:

Cartel

A group of independent market participants who collude to raise prices, limit supply or otherwise manipulate market conditions in their favor.

Quantity Effect

the change in the quantity of goods sold or consumed as a result of a change in price, holding other factors constant.

Profit

The financial gain or surplus remaining after all operating expenses, taxes, and costs have been subtracted from total revenue.

Duopoly

A market structure dominated by two firms, often leading to strategic behaviors and outcomes different from those in more competitive markets.