market competition
/ˈmɑːrkɪt ˌkɒmpəˈtɪʃən/ · mar·ket com·pe·ti·tion
noun
- The rivalry among businesses selling similar products or services within a particular market, influencing prices, quality, and innovation. Intense market competition forced the smartphone makers to release new features every year.
- The overall level of competitive activity in a market, often measured by the number of firms, market share distribution, and barriers to entry. Regulators monitor market competition to ensure no single company can dominate the industry.
Synonyms
rivalrycontestcompetitionprice competitioncompetitive pressurecut‑throat competitionmarket rivalrybusiness rivalry
Antonyms
Did you know? The phrase gained legal prominence in the United States after the Sherman Antitrust Act of 1890, which aimed to curb anti‑competitive market practices.