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monopolistic competition

What Is Monopolistic Competition: Definition, Features, Examples, Diagrams

Monopolistic competition is a type of industry market in which many enterprises sell differentiated products (unique in their industry and have some qualities that consumers value), as well as exercise control over the price of the goods they produce.

The term “monopolistic competition” and the description of this market model were introduced by Edward Hastings Chamberlain in his work “The Theory of Monopolistic Competition” in 1933.

What is a non-price competition: definition, types, methods and examples

What Is a Non-Price Competition in Economics: Definition, Types, Methods, Examples

Non-price competition is carried out by improving the quality of products and the conditions of their sale.
The purpose of non-price competition is to organize the production of new types of products, expand the range, improve and update products, find ways to improve product quality and reliability, and its appearance, change payment terms, and improve marketing techniques.