The term "competition" is best defined by option 2: when companies selling similar products compete for the same customer. This describes the scenario in which rival businesses strive to attract customers to their offerings, often leading to better products, services, and prices for consumers.
Define the term.
Competition
answers are 1an individual or company's desire to seek and maximize profits. It helps to fuel economies as small businesses are started off this desire alone
2when companies selling similar products compete for the same customer
3the relationship between the amount of a particular kind of good in the market and how much the customers want it
1 answer