Competition And Market

Question 1

Competition

Answer 1

Rivalry amongst sellers

Question 2

Market

Answer 2

Any situation where buyers and sellers are in contact in order to establish price

Question 3

Market : non physical

Answer 3

Markets can be no physical meaning that markets have grown rapidly because of the convenience they offer.

They can be classed as online or digital

Question 4

Markets : physical

Answer 4

Physical markets continue to exist because of the personalisation they offer

Question 5

Markets: digital

Answer 5

Is a non tangible product for example downloading of music

Question 6

Online

Answer 6

Is a tangiable product it is something which is physical and can be deliver to your for example clothes