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Producers benefit from business competition by having to develop proficiency to a much greater level in providing their product or service to the market than they otherwise would have if business competition was lacking.
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Since the free enterprise system guarantees that there will be competition in business what benefit does competition have for consumers?
Competition forces businesses to produce goods at a price people can afford-----(novanet)
Distinguish perfect competition and imperfect competition?
In imperfect competition the producer is the price maker. Whereas in perfect the producer is the price taker meaning there are many producers and no one can influence the price.
Is competition unethical?
unethical competition in business?
Why does competition thrive in the business world?
because of competition
Are there other public functions that might benefit from more competition including competition from private?
The Post Office?
Since the free enterprise system guarantees that there will be competition in business what benefit does competition have for consumers?
Competition forces businesses to produce goods at a price people can afford-----(novanet)
Why did American want to Americanized immigrants?
Because of business competition
Distinguish perfect competition and imperfect competition?
In imperfect competition the producer is the price maker. Whereas in perfect the producer is the price taker meaning there are many producers and no one can influence the price.
When a industry or business has no competition?
A monopoly is an industry or business having no competition.
What is the importance of competition?
Competition in business is important for several reasons. First, competition drives innovation. Second, business competition brings better quality. Finally, business competition keeps price inflation in check.
How can you set your business competitor?
You can sset your business competition by being the best business you can be and just outshine your competition.
How consumers benefit from competition among businesses?
competition leads to lower prices
Is competition unethical?
unethical competition in business?
What is a Business Plan Competition?
A Business Plan Competition is something that occurs between students who wish to someday work in the business field. Students who compete in the business plan competition create mock business plans.
How did the US' laissez-faire economic policies benefit business during industralization?
Congress had imposed new tariffs to protect American industry from foreign competition.
What is net social benefit?
The net social benefit is the sum of producer and consumer surplus.
Example of Producer Cooperative in the Philippines?
criticisms on oligopolistic competition
