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2.5 Competition
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What competition means

What competition means

A market is any situation where buyers and sellers exchange goods or services. Producers sell to consumers, and in a market economy firms usually aim to make profit.

2.5 Competition Lesson

  1. GCSE
  2. /Economics
  3. /2.5 Competition

Step-by-step lessons on OCR GCSE Economics 2.5 Competition, covering 2.5.1 Why producers compete, 2.5.2 How competition affects price, 2.5.3 Economic impact of competition, and 2.5.4 Monopoly and oligopoly. Each one builds up to exam-style questions. Build a solid grasp of supply and demand and cost/revenue calculations before tackling the evaluation-heavy policy topics.

Lessons