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List and Define the Prerequisites for a Market Economy

question 95

Essay

List and define the prerequisites for a market economy.


Definitions:

Competitive Strategies

Tactics and approaches that businesses adopt to outperform their rivals and achieve superior market position.

Competitive Advantage

The unique attributes or qualities a company possesses that enable it to outperform its competitors, generating greater sales or margins.

Corporate Governance

The system of rules, practices, and processes by which a company is directed and controlled, involving the balance among the interests of a company's stakeholders.

Strategic Management

The procedure of developing, executing, and assessing decisions across different functions to help an organization meet its goals.

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