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competition leads to lower prices
Romaine Aufderhar
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In a free enterprise system how does competition among businesses benefit consumers?
by lowering prices
What eliminates competition among businesses?
Monopoly
How do consumers benefits from competition among business?
competition leads to lower prices
Economic rivalry among sellers for the consumers' dollars is called?
competition
What is the struggle among sellers to attract consumers while lowering costs?
Competition
What is on benefit of competition among different interest groups?
Competition helps limit the power of each group.
What is one benefit of competition among interest groups?
Competition helps limit the power of each group.
How does the us government promote fair competition among businesses in the US?
it does stuff
What is the importance of competition in the free market system?
The importance of competition in the free market system is that it provides Freedom among consumers. For example if two businesses have a product and they both sell it at two different prices consumers will most likely go for the lowest price. This is because their free market economy produces pay attention to what consumers need and want and producers produce Goods accordingly
Why is perfect competition among businesses rare?
barriers keep companies from entering the market freely
Explain how a reduction in the amount of sunlight in an ocean ecosystem could cause greater competition among the consumers?
Less sunlight would likely result in fewer producers. A decrease in producers would cause greater competition among consumers for the decreased food supply.
Which is not a reason why policy makers avoid spikes and slumps in product prices?
The spikes and slumps can inhibit competition among businesses.
