Examlex
Mention and explain three ways through which small business contribute to the Canadian economy.
Single Provider
Refers to a market scenario where only one company or entity supplies a particular product or service.
Monopolistic Competition
An economic environment where many firms offer products or services that are similar but not perfect substitutes, leading to a scenario where each company has some market power.
Substitutable Products
Substitutable products are goods or services that can be used in place of each other by consumers due to their similar functions or characteristics.
Price Range
The spread between the highest and lowest selling price of a product or service in the market.
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