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Describe the Three Components of Competition

question 91

Essay

Describe the three components of competition.


Definitions:

Professional Duty

An obligation or responsibility that an individual in a professional role is expected to perform or uphold.

Cost

An amount that must be paid or spent to buy or obtain something, which can include money, time, or labor in the context of production or services.

Benefits

Refers to the advantages or positive outcomes derived from a particular action, policy, or product.

Information Derived

Information derived means the knowledge or data obtained as a result of processing, analyzing or interpreting original data sources.

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