A situation in a market in which firms or sellers independently strive for the patronage of buyers in order to achieve a particular economic business objective, e.g., profits, sales and/or market share. (Adapted from Glossary of Industrial Organisation Economics and Competition Law, compiled by R. S. Khemani and D. M. Shapiro, commissioned by the Directorate for Financial, Fiscal and Enterprise Affairs, OECD, 1993)
Acoustic emission (AE) is the phenomenon of radiation of acoustic (elastic) waves in solids that occurs when a material undergoes irreversible changes in its internal structure, for example as a result of crack formation or plastic deformation due to aging, temperature gradients or external mechanical forces. (https://en.wikipedia.org/wiki/Acoustic_emission)
An economic system in which goods and services are exchanged in a market free from government regulation or direction, and production and consumption of goods and services is driven by consumer demand and producer supply. (NALT https://lod.nal.usda.gov/nalt/130640)
