Identify and Explain the Four Basic Degrees of Competition

question 134

Essay

Identify and explain the four basic degrees of competition.Provide an example of each.

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Definitions:

Legislation

A body of laws and regulations enacted by a government or legislative authority to regulate, authorize, sanction, grant, declare, or restrict.

Environmental Factor

An external influence that affects an organization’s operations, including economic, legal, technological, and competitive elements.

Technology

The application of scientific knowledge for practical purposes, especially in industry and in our daily lives, through the use of tools, machines, systems, and processes.

Geographic Migration

The movement of people from one area to another, often for the purposes of employment, education, or living conditions.