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Quotes of the day:
An inexhaustible good nature is one of the most precious gifts of heaven, spreading itself like oil over the troubled sea of thought, and keeping the mind smooth and equable in the roughest weather.
Price leadership occurs when a pre-eminent firm (the price leader) sets the price of goods or services in its market. This control can leave the leading firm’s rivals with little choice but to follow its lead and match the prices if they are to hold on to their market share. Price leadership is common in oligopolies, such as the airline industry, in which a dominant company sets the prices and other airlines feel compelled to adjust their prices to match.
Cost leadership: When a company sells cheap and makes money
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