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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.
Competition among producers helps keep prices down?
marketing
Competition between producers help keep prices down in this type of economy?
competween producers helps keep prices down in this type of economy?
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.
Are supermarkets a benefit to the UK society?
Yes because they keep retail prices low through competition and therefore the cosumer is the winner.
Why does the wall mart in chambersburg pa have to raise there prices a lot higher than the other wall mart in the area?
Wal-Mart arrives at a location with low, low prices to destroy their competition. Once the competition is gone, they raise their prices. Why? Because they can.
Why did some people believe that lack of competition would hurt consumers?
Theoretically, competition keeps prices low because various firms vie for the business of consumers. When they compete, they attempt to win a larger market share by lowering prices. Therefore, if competition is lacking, prices will increase. Take a monopoly for example. No competition means they can set really high prices.
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.
Competition among producers helps keep prices down?
marketing
Why limiting import is detrimental to domestic customers?
Limiting imports impact domestic customers because they have less selection of products, as well as less competition. A lack of competition can cause higher prices since businesses have little incentive to keep prices low when there are fewer businesses to compete with.
What is the main component that keeps prices low in capitalism?
Within Capitalism, there are many businesses who sell similar products. If one company were to raise their prices of their products higher than another company, then people would buy the products of the company who kept their prices lower. So, companies are forced to keep their prices low so that people will continue to but their products. In short, competition is what keeps prices low in capitalism.
Competition between producers help keep prices down in this type of economy?
competween producers helps keep prices down in this type of economy?
What kind of economy is a competition among producers helps keep prices down?
market
What is the primary goal of both monopoly and a cartel?
To control competition and keep prices high
What is the primary goal of both a monopol and a cartel?
to control competition and keep prices high
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.
