GK
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A type of rivalry between or among businesses that focuses on the use of price to attract scarce customer dollars.
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Price competition
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Price control(s)
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Either A or B
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None of the above
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Explanation:
Detailed explanation-1: -Price Competition-A type of rivalry between or among businesses that focuses on the use of price to attract scarce customer dollars.
Detailed explanation-2: -Definition: Direct competition is when two or more businesses offer the same product or service and compete for the same market. There are many common examples of this.
Detailed explanation-3: -Competition: The rivalry between companies selling similar products and services.
Detailed explanation-4: -A reward a businessman receives after bearing the risk of the business is known as profit. It is the money left over after covering all the costs of the business.
There is 1 question to complete.