Competitive

Competitive

1. Applied to a market or industry, this usually means perfectly competitive. Contrasts with imperfectly competitive. 2. Applied to a firm or the products of a country, this usually means having low price, high quality, or other characteristics that make it attractive to purchasers compared to products from other firms or countries. See competitiveness.

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Part of Speech: noun
Synonym(s):
Blossary:
Industry/Domain: Economy
Category: International economics
Company: University of Michigan
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