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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?
How do consumers benefit from competition in business?
Consumers benefit from competition in business through lower prices, improved product quality, and greater variety of choices. When multiple companies vie for customers, they are incentivized to innovate and enhance their offerings, leading to better services and products. Additionally, competition encourages businesses to respond to consumer needs and preferences more effectively, resulting in a more satisfying shopping experience. Overall, a competitive market fosters an environment that prioritizes consumer interests.
Why does competition thrive in the business world?
because of competition
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.
Why did American want to Americanized immigrants?
Because of business competition
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.
What is net social benefit?
The net social benefit is the sum of producer and consumer surplus.
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
How did the US' laissez-faire economic policies benefit business during industralization?
Congress had imposed new tariffs to protect American industry from foreign competition.
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.
Example of Producer Cooperative in the Philippines?
criticisms on oligopolistic competition
