Examlex
Contests can be classified into two categories. Name and describe them, giving an example of each.
Price
The amount of money required to purchase a good, service, or asset. It acts as a signal to both buyers and sellers in a market.
Competitors
Competitors are companies or entities that operate in the same or a similar industry and vie for the same customers or market share.
Unfair Competition
Business practices that are deemed unethical or illegal, aiming to gain an unfair market advantage.
Oligopolist
An oligopolist is a participant within an oligopoly, which is a market structure characterized by a small number of firms dominating the industry, often leading to limited competition and higher prices for consumers.
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