Economics GCSE
Price competition
What Price competition means in Economics GCSE, as defined for AQA.
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: AQA
Lowering prices to increase market share, as consumers can easily switch to rivals.
Topics that use Price competition
- Competitive markets (AQA GCSE)
Related terms
- Barriers to entry
- Competitive market
- Competitive markets
- Consumer choice
- Efficiency and cost management
- Non-price competition
- Price takers
- Normal profit
Using Price competition in the exam
Check the command word and mark scheme for your exact question. After comparing your explanation with the reference, use the term in an answer on the linked topic. This practice does not predict an exam mark.
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