When firms compete aggressively through advertising and product development,it is called ________ competition.

Question

Quizplus · Accepted Answer

When firms compete through means other than price, such as advertising and product development, it is known as nonprice competition. Perfect competition refers to a market situation where no single buyer or seller has control over the market price. Natural competition is not a common term in economics. Foreign competition refers to competition from firms in other countries. Attributive competition is not a recognized type of competition in economics.

When Firms Compete Aggressively Through Advertising and Product Development,it Is