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Vocabulary Term Details

Economic competition

Definition (

In economics, competition is the rivalry among sellers trying to achieve such goals as increasing profits, market share, and sales volume by varying the elements of the marketing mix: price, product, distribution, and promotion. (Wikipedia)

Preferred Units: N/A

Scope Note:

Broader TermsNarrower TermsRelated Terms
Economic phenomena
N/AEconomic value

This term is used for the following terms: 
Competition (economics)
Market competition

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