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» Economics » Topics begins with G » Generic competition


Page modified: Friday, June 23, 2006 20:29:03

Of generic competition one speaks, if at least two enterprises offer the same or a substitution property and try it to sell the same consumers in the same area. This competition is the fundamental rule mechanism of the free free-market economy, because thereby the price for a product, required by the Unternehemen, corresponds to the actual value. In case of an economical monopoly there is no generic competition.


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