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Yes.
Greater competition between firms/countries/... makes the productive capacity rise and will reduce costs. The rise in the productive capacity is mainly achieved by investing in new capital goods (or replacing the old ones). Of course this will reduce the labor needed (so less costs) and will increase efficiency in the end.
What else can I help you with?
What promotes greater efficiency and lower price by protecting competition?
Antitrust laws
Which of the following promotes greater efficiency and lower prices by protecting competition?
antitrust laws -apex :)
Why does competition foster efficiency?
1. Competition fosters efficiency because producers have to offer the best products at reasonable prices.
What are effects of trading with other countries?
Trading with other countries can lead to economic growth by expanding markets for goods and services, promoting competition, and fostering innovation. It often results in lower prices and greater variety for consumers due to increased supply and efficiency. Additionally, international trade can create jobs in export industries, although it may also lead to job losses in sectors exposed to foreign competition. Overall, trade can enhance economic interdependence and strengthen diplomatic ties between nations.
What promotes a greater efficiency and lower prices by protecting competition?
A competitive marketplace promotes greater efficiency and lower prices by encouraging businesses to innovate, reduce costs, and improve their products and services to attract customers. When multiple firms vie for consumers' attention, they are incentivized to operate more efficiently and pass savings onto consumers. Additionally, competition prevents monopolistic practices, ensuring that no single entity can dictate prices or stifle innovation. Overall, a healthy competitive environment fosters consumer choice and drives economic growth.
Why does the growth of the international trade lead to a rising global standard living?
International trade enables specialization, which brings increased efficiency and greater competition.
Why does the growth of international trade lead to a global rising standard of living?
International trade enables specialization, which brings increased efficiency and greater competition.
What antitrust laws promote greater efficiency and lower prices by protecting?
Competition
What promotes greater efficiency and lower price by protecting competition?
Antitrust laws
Which of the following promotes greater efficiency and lower prices by protecting competition?
antitrust laws -apex :)
Benefits of privatisation?
The benefits of privatization are that there can be increased competition. This can lead to increased efficiency, and better prices for consumers.
Why does competition foster efficiency?
1. Competition fosters efficiency because producers have to offer the best products at reasonable prices.
What is one way in which increased international trade improved standard of livin for both Americans and europeans?
International trade enables specialization,which brings increased efficiency and greater competition to spur the market
What are financial influences in business?
Financial influences in business is the deregulation resulting in the opening up for the financial industry to much greater competition. Deregulation - Is the removal of government regulation from industry, which increases efficiency and improving competition. Bibliography: Business in action text book Preliminary Course
What are effects of trading with other countries?
Trading with other countries can lead to economic growth by expanding markets for goods and services, promoting competition, and fostering innovation. It often results in lower prices and greater variety for consumers due to increased supply and efficiency. Additionally, international trade can create jobs in export industries, although it may also lead to job losses in sectors exposed to foreign competition. Overall, trade can enhance economic interdependence and strengthen diplomatic ties between nations.
What is the utility of a monopoly in the market?
A monopoly in the market can provide benefits such as economies of scale, innovation, and efficiency. However, it can also lead to higher prices, reduced competition, and potential harm to consumers.
Is free competition among competing interests actually the best way to promote the common good?
Free competition can incentivize innovation, drive down prices, and improve efficiency in providing goods and services. However, it can also lead to negative outcomes such as monopolies, inequality, and exploitation. Therefore, a balance of competition and regulation is often needed to promote the common good.
