WHAT DOES COMPETITION MEANS IN BUSINESS STUDIES?

2 Comments

1. Violette says:

   July 6, 2009 at 5:06 am

   Competition, as in another business selling the same product or service available to the clintele as your business. This results in competition, prices are adjusted, advertising increases, etc;.
   Think about gas stations across the street from one another. They are competing for business.
2. DonnaA says:

   July 6, 2009 at 5:06 am

   Competition means any private/public/limited company business offering the same or similiar service or goods.