Competition is the rivarly between firm selling
Answers
Answer:
Competition is also know as rivalry between companies selling similar products and services and its goal is of achieving revenue and profit, ...
Firms engage in competitive rivarly ,Some industries have little product or service differentiation from one company to the next. A lack of differentiation can increase the chances a consumer will select a product based purely on price or availability rather than brand loyalty, leading to competitive rivalry.
Explanation:
Competitive rivalry is also known as measurement or intensity of competition between companies in the same field or industry. Some competitive rivalry is often healthy for all businesses involved, as it encourages product and service innovation and discourages unnecessary price increases for customers. However, excessive competitive rivalry can pose challenges to some companies.