contestability Definition
the degree to which a market or industry allows new competitors to enter and compete with established companies.
Using contestability: Examples
Take a moment to familiarize yourself with how "contestability" can be used in various situations through the following examples!
Example
The contestability of the telecommunications industry has led to increased competition and lower prices for consumers.
Example
The government is working to increase the contestability of the energy market by promoting renewable energy sources.
Example
The lack of contestability in the banking sector has led to a concentration of power among a few large banks.
contestability Synonyms and Antonyms
Synonyms for contestability
Summary: contestability in Brief
Contestability [kənˌtestəˈbɪləti] refers to the degree to which a market or industry allows new competitors to enter and compete with established companies. It is often associated with increased competition and lower prices for consumers, as seen in the telecommunications industry. The government may work to increase contestability, as with renewable energy sources, while a lack of contestability can lead to a concentration of power among a few large companies, as in the banking sector.
