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Competition

Competition in economics is a commercialism between the sellers on more favorable conditions of production and sales and the possibility of higher returns. Competition is regulated by both national and international law, eg. for Latvian entrepreneurs are binding not only Latvian competition law, but also EU competition law.

In Latvian competition law competition is defined as the existing or potential economic (commercial) rivalry between two or more market participants in a relevant market.

In the conditions of the competition the market participants offers for customers a product. Every market participant has a market share.

This page was last modified on 18 January 2018 at 05:53.

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