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What best explains why competition is an important part of a free-market system?
Wiki User
∙ 14y ago
C. Without competition, people wouldn't have a lot of choices.
Wiki User
∙ 14y ago
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In a freemarket system producers are motivated to reduce costs and increase revenues because of which of the following?
Profit Motive
What best explained why competition is an important part of a free market system?
C. Without competition, people wouldn't have a lot of choices.
Why is competition important in the US enterprise system?
Competition has, as two of it's results, improved products, and lower prices, both very good things for the consumer.
What economic system allows competition?
The Free Market system is designed for competition.
Why is fair competition important in the private enterprise system?
Fair competition allows firms to compete in the marketplace, knowing that they won't be subjected to excessively aggressive practices that are designed to eliminate them.
What is freemarket system?
It means the the business is privately owned and operated. It is not owned or controlled by the goverment.
Why competition is an important of a free market system?
Without competition, people wouldn't have a lot of choices
Why is competition an important part of free market system?
Without competition, people wouldn't have a lot of choices
Why is competition an important part of a free-market system?
Without competition, people wouldn't have a lot of choices
In a freemarket system producers are motivated to reduce costs and increase revenues because of which of the following?
Profit Motive
In a freemarket system consumers let producers know what they want to buy and how much theyre willing to pay through what?
Their purchases.
Why is the constitution so important to your legal system?
The Constitution is important because it explains your rights and the way you should be treated by the law. The Constitution also explains how the government is to be laid out.
What best explained why competition is an important part of a free market system?
C. Without competition, people wouldn't have a lot of choices.
Why is competition important in the US enterprise system?
Competition has, as two of it's results, improved products, and lower prices, both very good things for the consumer.
What economic system allows competition?
The Free Market system is designed for competition.
Why is fair competition important in the private enterprise system?
Fair competition allows firms to compete in the marketplace, knowing that they won't be subjected to excessively aggressive practices that are designed to eliminate them.
What are the four types of competition in marketing channel?
Horizontal competition, Inter-type competition, vertical competition, channel system competition
