Questions

Competition  occurs when two or more organisations act independently to supply their products to the same group of consumers.

There are mainly two cases when firms can compete. One is price where firms are selling identical or very similar products, they must compete on price with each firm trying to undercut the others. The other is differentiation. A non-price competition depends on making a product different from those of competitors and by giving it distinctive qualities that are valued by the target market. This might include branding, styling, special features or higher levels of customer service. Good competition provides more options to customers and also brings with it improved  customer services.

ICICI Bank topped the list of banks that witnessed the most number of frauds during April-December period of 2016 with state-owned SBI taking the second spot, RBI data said.

The Deccan Riots Commission was set up which presented a report to the British Parliament in 1878.In 1879, the Agriculturists Relief Act was passed which ensured that the farmers could not be arrested and imprisoned if they were unable to pay their debts.It was an Act for the relief of Indebted Agriculturists in certain parts of the Deccan.