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Business - Paper 1 > Competitive markets > Flashcards

Competitive markets Flashcards

1
Q

What makes a competitive market?

A

Large number of businesses relative to the number of potential customers

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2
Q

What are some drawbacks of highly competitive markets?

A

Accept LOWER PROFIT MARGIN
Lower prices
Close monitoring of competitors

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Business - Paper 1 (41 decks)

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