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Its the competition that comes from allowing anyone who wants to sell a particular service or item to do so. So if three people want to sell flowers, there is a competition between them to earn your business
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∙ 15y ago
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Why is competition an important part of a free-market system?
Without competition, people wouldn't have a lot of choices
What are the basic market model?
There are four basic market models based on the amount of competition within the industry. They are pure competition, monopolistic competition, oligopoly, and pure monopoly.
What is most likely to be a disadvantage of increasing your market share?
Increasing your market share is likely to invite competition - you may invite competition. hehehe K12 LOL
What is market assessment?
Market Assessment is the evolution of the market for a product or service including the analysis of the market trends , assesing the competition and conducting market studies.
One company controls the market for a certain product there is no competition?
monopoly
What market structures can exist in a free market?
Oligopoly, Pure competition, Monopolistic competition
How do you best describes the relationship between competition and a free-market economy?
The following statement best describes the relationship between competition and a free market system: Competition increases within a free market system.
What is the motivation behind the free market?
competition
What is the regulating force in a free market?
competition.
What economic system allows competition?
The Free Market system is designed for competition.
Why competition is an important of a free market system?
Without competition, people wouldn't have a lot of choices
What is one of the important advantage of a free market?
Unrestricted competition
Why is competition an important part of a free-market system?
Without competition, people wouldn't have a lot of choices
Why is competition an important part of free market system?
Without competition, people wouldn't have a lot of choices
What purpose does competition serve in the free market?
to keep monopoly's from happening
How does free market function under perfect competition?
it regulates itself.
What market structure is free from barriers to entry and exit?
Perfect competition
