competition market - created from Mind Map

Seite 1

Market competition occurs when in a market there is more than one company that compete for customers' preference for their products and services

Mayra Alejandra Lugo Perez

Prices are determined only by forces:

There are 2 types of competition market

Importance of market competition

Supply and demand.

Try to maximize your benefit or satisfaction.

Thanks to this the ceiling of the price of that product will be reduced.

thus finding a balance between supply and demand

There is an indefinite number of buyers and sellers.

Perfect competition

imperfect competition

Competitors in the market offering their products.

No company has the power to manipulate or set the prices of goods and services.

It is presented in a practical way in the market

Competing agents in the market

Supply or demand

They can manipulate the supply of the products and the establishment of prices.

the competition is completely necessary to regulate the market.

Consumers, we don't have to pay a price excessive for certain products.