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What does competition mean in business?

Answer and explanation

Correct answer: समान ग्राहकों के लिए कई विक्रेताओं का प्रयास

Competition occurs when two or more sellers seek to attract customers for similar or substitute goods and services. They may compete through price, quality, variety, convenience, or service. Competition does not mean that customers are absent or that every shop closes. Therefore, the effort of several sellers to serve the same customers is correct.

Related tags

CompetitionMarketBusinessBusiness RiskTrade And CommerceBusiness Trade And CommerceBusiness StudiesClass 11 Mcq

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