competitive market

Noun

Meaning

competitive market (plural competitive markets)

(economics) A market in which no single firm can influence the price of a good or service due to the competitive nature of other firms in the market.

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Examples

The smart way to improve broadband is not to junk the existing network but to make the most of it. It's to let a competitive market deliver the speeds that people need at an affordable price with government improving infrastructure in the areas where market competition won't deliver it. Tony Abbott

The price-tax conditions necessary to sustain the Pareto optimality of a competitive market solution under the assumed convexity conditions are tantamount to standard Pigovian rules, with neither taxes imposed upon, nor compensation paid to, the victims of externalities. William J. Baumol

2000s main The 2000s (decade) showed innovation on both consoles and PCs, and an increasingly competitive market for portable game systems. Source: Internet

A standard theorem is that a perfectly competitive market creates distributions of wealth that are Pareto optimal. Source: Internet

All of this demonstrates that no matter what business you are in, customer service is both a key differentiator in a competitive market and can also reduce costs. Source: Internet

"Continued growth is the lifeblood of a social-media company like TikTok and essential to maintain its competitive market position." Source: Internet

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