Inappropriate levels of competition amongst both buyers and sellers
... levels of competition amongst both buyers and sellers Competition is the act of firms trying to do better than others in the market through various activities in the sale of goods and services.
Competitiveness is the ability of a business to fight for market share, make profit, and increase volume of sales, among other competitors (Dwivedi, 2002).
There is pure competition, imperfect competition, monopoly, and oligopoly.
Firms improve their competitiveness through various actions, for example, changing production methods to reduce cost, changing strategies, or even increased marketing (Dwivedi, 2002).
Competition improves performance and innovation among firms, therefore, improved quality in ...