competition economics

Competition economics studies how businesses compete in the marketplace to attract customers, offer better products or prices, and innovate. It analyzes the effects of competition on prices, quality, and market efficiency, aiming to ensure a fair environment for companies and consumers. Regulators use this field to prevent monopolies and anti-competitive behaviors that could harm consumers or hinder market innovation. Essentially, it helps maintain a balance where multiple firms can coexist and compete healthily, encouraging progress and fair pricing.