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Competition - GCSE Business Definition

Reviewed by: Lisa Eades

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Competition in the context of GCSE Business refers to the rivalry between businesses in the same market. It encourages businesses to innovate, improve quality, reduce prices, and enhance customer service to stand out from competitors.

Effective competition can lead to better choices and prices for consumers and promote efficiency and growth within the industry. Understanding competition helps students analyse how markets work and the ways businesses adapt to gain a competitive edge.

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Lisa Eades

Reviewer: Lisa Eades

Expertise: Business Content Creator

Lisa has taught A Level, GCSE, BTEC and IBDP Business for over 20 years and is a senior Examiner for Edexcel. Lisa has been a successful Head of Department in Kent and has offered private Business tuition to students across the UK. Lisa loves to create imaginative and accessible resources which engage learners and build their passion for the subject.

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