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Tags: marketing
Categories: Economics & Finance
Rivalry in which every seller tries to get what other sellers are seeking at the same time: sales, profit, and market share by offering the best practicable combination of price, quality, and service. Where the market information flows freely, competition plays a regulatory function in balancing demand and supply.
(Read more: http://www.businessdictionary.com/definition/competition.html#ixzz2I8gGHPZO)
Synonyms:
rivalry, competing companies
