Economics B A-Level
Price competition
What Price competition means in Economics B A-Level, as defined for Pearson Edexcel.
Definition of Price competition
Check what you remember
Read the wording for your board, then hide it and explain Price competition in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: Pearson Edexcel
Winning market share in global markets by offering lower prices, often achieved through economies of scale.
Topics that use Price competition
- Responding to global demand (Pearson Edexcel A-Level)
Related terms
- Branding
- Economies of scale
- Ethnocentric approach
- Geocentric approach
- Globalisation
- Non-price competition
- Polycentric approach
- Product differentiation
Using Price competition in the exam
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