Competitive markets are those in which numerous companies or suppliers vie for consumer patronage within a specific industry or sector. These markets are always thriving with lots of activities and there is no single company that dominates the industry. Synonyms for competitive markets include open markets, free markets, fair markets, and level playing fields. They can also be referred to as dynamic markets, cut-throat markets, or crowded markets. These synonyms help to describe the nature of intense competition, the existence of entry and exit barriers, as well as the level of market share that a company should have in a particular industry to remain competitive. Regardless of the term used, a truly competitive market is a win for consumers, with companies having to offer the best products/services at the best possible prices in order to survive.