economic competition
Business vying for dominance
Economic competition is rivalry among businesses or nations seeking the same customers, resources, or market advantage.
Companies compete through pricing, quality, innovation, or marketing: The economic competition from overseas manufacturers forced domestic producers to cut costs.
Economists generally view competition as beneficial—driving efficiency and lowering prices for consumers.
- antitrust lawsRegulations preventing corporate monopolies
- tariffsTaxes on imports
- race to the bottomCompetition through degraded standards
- dog eat dogRuthless mutual competition
- brandingCreating distinctive identity
mom and pop · zero-sum · predatory · demand curve · comparative advantage · income inequality · trade agreements · mergers and acquisitions · hostile takeover · fair trade practices · trade wars · losers · supply chain · barriers to entry · economies of scale · advantage · globalization · winners
- antitrustantitrust, price fixing, cartel, collusion, antitrust laws
economic competitionmonopoly
One seller, no substitutes
oligopoly · cartel · market dominance · trust · duopoly
economic competitioncentral planning
Government directs all production
planned economy · command economy · state control · economic planning · socialism
economic competitioneconomic cooperation
Joint financial activity between parties
collaboration · collusion · business partnership · economic alliance · consortium
economy, compete, competition, economic, competitor, competitive, economical, economics, economize