Competitiveness
Competitiveness refers to the ability of individuals, businesses, or nations to compete effectively in a market or environment. It often involves striving to outperform others in areas such as quality, price, and innovation. Factors influencing competitiveness include resources, technology, and workforce skills.
In economics, competitiveness can be measured through various indicators, such as productivity and market share. For example, a company that consistently delivers high-quality products at lower prices may gain a larger market share than its rivals. Similarly, a country with a skilled workforce may attract more foreign investment, enhancing its overall economic competitiveness.