Explanation:
The two types of goods / services where price competition works best are those classified by a market model of perfect competition and imperfect competition.
In perfect competition, there is a predominance of a homogeneous market, with the presence of many companies and without barriers to entry, where there is the possibility of free price competition, such as the food industry.
In imperfect competition, there is also the presence of many industries in the market, but there is a differentiation of products, which causes price competition but depending on the benefits, functionality and degree of differentiation of the good perceived by the consumer.
The two types of goods/services that lend themselves well to price competition are those that are classified by a market model of perfect competition and imperfect competition.
It should be noted that in perfect competition, there is a homogeneous market. Also, no one can influence the price. There's also free entry and exit.
On the other hand, in imperfect competition, there is also the presence of many industries in the market, but there is a differentiation of products, which causes price competition. Also, the producers can influence the price.
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