Title: Describe the effects of competition on for-profit and not-for-profit organizations.
Course: Marketing (12164) > Section: Understanding Economics in Organizations

Description should include

- the definition of competition in its various forms (i.e., price, non-price, direct, and indirect)
- the effects of competition (e.g., consumer choices, lower prices, levels of quality, development of new products and services, product/service obsolescence).

Process/Skill Questions:

- What is difference between price and non-price competition?
- Other than in pricing, what are some ways in which businesses compete?
- What is the difference between direct and indirect competition?
- Why would a not-for-profit organization be concerned about competition? How is competition among not-for-profit organizations different from competition among for-profit organizations?
- What is a monopoly? What are the disadvantages of monopolies?