What is the fuel for competition?
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5 min read
According to Investopedia, microeconomic competition is influenced by several factors, including product features and barriers to entry. At its core, the primary fuel for competition isn't a single resource but a dynamic interplay of several powerful forces: innovation, consumer demand, and the relentless drive for market share. These elements create a perpetual cycle of progress that benefits both businesses and consumers by fostering growth and efficiency.
