Examlex
Trait theorists tend to believe that:
Monopolistic Competition
A market structure where many companies sell products that are similar but not identical, allowing for significant competition but with some control over prices.
Pure Competition
A market structure characterized by a large number of small firms selling identical products with no single firm able to influence price.
Product Differentiation
The approach of making a product or service stand out in the market to appeal more to a designated target segment.
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