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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
- Product:
- Acronym-Abbreviation:
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