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What kind of economy is a competition among producers helps keep prices down?
market
Competition among producers helps keep prices down in this type of economy?
In a market economy, the competition between producers helps keep the prices down. This is an economic practice that is based solely on supply and demand.
Competition between producers help keep prices down in this type of economy?
competween producers helps keep prices down in this type of economy?
What happens if competition decreases in a certain industry?
Competition helps to keep the quality high and prices down. If competition decreases, the quality can go down and the prices can go up in that industry.
Why is competition an important part of a free market system?
Competition is very important in a free market system because it helps drive prices down which in turn increases sales. For example, there was a gas station where I live that was able to charge $.05 to $.10 per gallon more for gas than the next town because they didn't have any competition. Customers would rather pay a bit more because of the convenience of it. When a competitor built a gas station across the street, the gas prices went down because both companies were trying to attract the same customers. When there is competition, the customer wins.
What kind of economy is a competition among producers helps keep prices down?
market
Competition among producers helps keep prices down in this type of economy?
In a market economy, the competition between producers helps keep the prices down. This is an economic practice that is based solely on supply and demand.
What type of economy does Competition among producers helps keep prices down?
under a free market economy and perfect competition, model, producers are forced to produce at the lowest possible cost (productively efficient) to gain customers.
Competition between producers help keep prices down in this type of economy?
competween producers helps keep prices down in this type of economy?
What happens if competition decreases in a certain industry?
Competition helps to keep the quality high and prices down. If competition decreases, the quality can go down and the prices can go up in that industry.
Why is competition an important part of a free market system?
Competition is very important in a free market system because it helps drive prices down which in turn increases sales. For example, there was a gas station where I live that was able to charge $.05 to $.10 per gallon more for gas than the next town because they didn't have any competition. Customers would rather pay a bit more because of the convenience of it. When a competitor built a gas station across the street, the gas prices went down because both companies were trying to attract the same customers. When there is competition, the customer wins.
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.
Why does globalization lead to a reduction in prices for goods and services?
Competition for jobs drives down wages, which helps companies lower their prices.
What are some pros and cons for import quotas?
The advantages of having the import quotas is that it protects the local producers and it helps in the effective regulation of the prices. The disadvantage is that there is no tax income for the government from the customs.
How does competition among long distant telephone cimpanies help us choose which one to use?
Competition between long distance telephone companies helps us choose with their competitive rates, helping their customers find the best deals.
What are some advantages for producers of non organic food?
They can use chemicals to control weeds and insects, which helps to make production less labor intensive. That in turn can be reflected in lower prices at the supermarket.
