Definition
The existence within a market for some good or service of a sufficient number of buyers and sellers such that no single market participant has enough influence to determine the going price of the good or service. opposite of monopoly.
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'competition' appears in these other terms:
monopolistic competition, perfect competition, pure competition
'competition' appears in the definitions of these other terms on BusinessDictionary.com: intratype competition, imperfect competition, intertype competition, Bertrand competition, dominant firm, and
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