RegisterLog in Sign up with one click: Facebook Twitter Google Share on Facebook rivalrous (redirected fromRivalry (economics)) Thesaurus Wikipedia ri·val·rous (rī′vəl-rəs) adj. Characterized by or given to rivalry or competition. ...
a. a person, organization, team, etc, that competes with another for the same object or in the same field b. (as modifier): rival suitors; a rival company. 2. a person or thing that is considered the equal of another or others: she is without rival in the field of economics. ...
market exchange is still heavily constrained because, on an illegal market,competitionoften takes the form of violent conflict between rival groups of producers or consumers as opposed to free market
Horizontal price fixing occurs when competitors at the same level of the supply chain, such as rival companies ormanufacturers, enter into agreements to set and maintain prices for their products or services. In this situation, companies may conspire to artificially inflate prices, restrict output, ...
2. Bertrand Duopoly:In a Bertrand duopoly, the two firms compete by setting prices, assuming their rival’s output remains fixed. Unlike the Cournot duopoly, the Bertrand duopoly is characterized by price competition. Each firm strives to offer a lower price than its competitor to attract custome...
In economics,Competitionis a situation in which one company tries to be more successful than another. One business may be trying to sell more than a rival. It may also be striving to gain greater market share. Often, several companies are competing. The word refers to a race, in which th...
Theory of Public Goods in Economics Quasi-Public Goods Public Goods Examples Lesson Summary Frequently Asked Questions What is a public good and what are its characteristics? A public good is an economic term used to describe goods and services that are non-rivalrous and non-excludable. Non-ri...
After Portugal grew its empire by colonizing the populated central Atlantic islands of Madeira and Cape Verde, its arch-rivalSpaindecided to try its hand at exploration. In 1492, Spanish explorerChristopher Columbussailed searching for a western sea route toChinaandIndia. Instead, he landed in the...
Pope Alexander VI brokered this agreement in 1494 to settle disputes that developed the rival states as a result of explorations of the African coast and the New World. The two Iberian kingdoms were instructed to convert non-Christians they encountered to Roman Catholicism and given the right to...
on the principles of judo, a Japanese martial art. The phrase judo economics, which was coined by economists Judith Gelman and Steven Salop. It was used to describe a strategy when launching a business in a market controlled by a powerful rival, which may have had a more significant ...