Market competition refers to the rivalry between businesses striving to attract customers and achieve higher sales and market share. It drives innovation, improves product quality, and can lead to lower prices for consumers, but may also result in market monopolies if not regulated properly.

Market Competition

Market competition

rivalry between businesses

attract customers

higher sales

Market share represents a company's portion of total sales in its industry, indicating its competitiveness and market dominance. It is crucial for assessing a company's growth, strategic positioning, and potential for economies of scale.

market share

drives innovation

improves product quality

lower prices for consumers

Market monopolies occur when a single company or entity dominates a particular industry or sector, leading to limited competition and potentially higher prices for consumers. This dominance can result from various factors, including control over a critical resource, government regulation, or strategic business practices that prevent new competitors from entering the market.

market monopolies

not regulated properly

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