The National Industrial Recovery Act was a New Deal program that set the prices of many products to ensure fair competition.
National Industrial Recovery Act or NIRA
The primary goal of the Agricultural Adjustment Act of 1933 was to restore the price of farming commodities to prices pre-war. The Secretary of Agriculture had a five step program to ensure this success.
Study Island: to ensure a wide variety of products for consumeralso study island: to keep prices of goods and services low
competition
Speeds up the flow of capital and wages
Competition
The National Industrial Recovery Act was a New Deal program that set the prices of many products to ensure fair competition.
Competition stimulate innovation. It also forces the prices of products to go down over time. With competition, consumers can pay reasonable rates for products.
The primary goal of the Agricultural Adjustment Act of 1933 was to restore the price of farming commodities to prices pre-war. The Secretary of Agriculture had a five step program to ensure this success.
1. Competition fosters efficiency because producers have to offer the best products at reasonable prices.
Increasing competition can lead to the fact that the prices of these products are lowered by the producing companies involved.
Study Island: to ensure a wide variety of products for consumeralso study island: to keep prices of goods and services low
That Would Be COMPETITION
K Sivakumar has written: 'Quality-tier competition' -- subject(s): Brand choice, Quality of products, Prices, Competition
Competition has, as two of it's results, improved products, and lower prices, both very good things for the consumer.
It is a matter of basic Economics. The more products available, the lower prices. Companies choose the prices to a point, and the more competition for business, the customers will choose the lowest prices for the same items. Competition also effects quality and service, since if the same products and services are offered, customers will use other factors like how they are treated or how long the product lasts.
The government determined prices, wages, and products.
competition