1.Explain the different type of competitions and give examples of Tanzanias companies that operates under from each one competitions.
Competition is the battle between businesses to win consumer acceptance and loyalty. The private enterprise system ensures that businesses make decisions about what to produce, how to produce it, and what cost to prosecute for the carrefour or service. Competition is a basic lead of the free-enterprise system because it is believed that having more than one business competing for the very(prenominal) consumers will cause the products and/or services to be bequeathd at a better quality and a lower court than if there were no competitors. In other words, competition should provide the consumers with the best value for their hard-earned dollar.
Aspect of competition:
To be in(predicate) in todays very competitive business world, it is important for businesses to be aware of what their competitors are doing and to find a way to debate by matching or improving on the competitors product or service. For example, if Pepsi-Cola offers a hot affeine-free soda, Coca-Cola may offer a new affeine-free soda with only one calorie.
By crack an improvement on the competitors product, Coca-Cola is trying to convince soft-drink consumers to buy the new coke product because it is an improvement on Pepsis product.
Mainly there are four types of competition, these include:-
accurate Competition:
Perfect competition (also known as pure competition) exists when a whopping number of sellers produce products or services that seem to be identical. These types of businesses are typically run on a depressed scale, and participants have no control over the selling price of their product because no one seller is large bountiful to dictate the price of the product. Instead, the price of the product is set by the market. There are many competitors in a pure(a) competition industry, and it is fairly easy to enter or precede the industry. While there are no ideal examples of perfect...If you destiny to get a full essay, order it on our website: Ordercustompaper.com
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