MGT100 - Competition

Front

Rivalry among businesses for sales to potential customers

Back

competition

Front

Quantity of a product that buyers are willing to purchase at each various price.

Back

demand

Front

a market situation with only a few major sellers.

Back

oligopoly

Front

Legal market structure that requires huge investments in capital that would be wasteful and not good for public interest

Back

natural monopoly

Front

Market situation with many buyers and sellers that have no power to affect price

Back

perfect competition