In theory, perfect competition means that consumers can buy identical goods or services from different sources. Buyers have a natural tendency to buy things that are perceived as less expensive. As the price for one source drops, the entire customer base will quickly flee to the cheaper price until the supplier is no longer able to service the increased demand. In the mean time, the other suppliers will have dropped their prices to reacquire market share, or will leave the market if they can no longer compete at the established price. This creates a de facto monopoly in the last remaining supplier, who can then raise prices dramatically, even though the increased volume may have actually reduced the unit costs through various scales of economy. The total profit increase can be dramatic and may quickly stimulate regulatory concerns.
Competition affects consumers because you are aware of advertisement and businesses work very hard towards selling their product. Advertisement and such triggers their attention which leads them to choose one store rather than the other.
Consumers are forced to look at quality, price etc within different companies.
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taxes
Consumers decisions affect producers, and producer decisions affect consumers.
competition affects price quality and quantity in grocery store
Consumers have access to a greater variety of goods and services from other countries.
Government is the one that implements laws, regulations, and rules that governs the whole trade and commerce industry - and so whatever their actions are, if largely affects how business and companies earn profits from consumers and through their selling.
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Legal and regulatory forces are laws that protect consumers and competition and government regulations that affect marketing.
Many laws affect personal selling and give all consumers protection from unsafe product and unscrupulous traders .sales staff need to know the specific regulations that relate to the product or service they sell
higher profits - apex
Deregulation is the cutting back of federal regulation of industry and it affected certain industries in the 1980s by increasing the competition and lowered prices for consumers.
Deregulation is the cutting back of federal regulation of industry and it affected certain industries in the 1980s by increasing the competition and lowered prices for consumers.
how does photosynthesis affect upper level consumers that are carnivores
Consumers can affect a business based on consumptions of goods. The amount of goods that are bought and sold affect the profit and loss of a business.
taxes
Consumers decisions affect producers, and producer decisions affect consumers.
competition affects price quality and quantity in grocery store