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What is the purpose of competition?

a. to act as a regulating force in the marketplace b. to cause pro...

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What is the purpose of competition?

a. to act as a regulating force in the marketplace
b. to cause producers to attempt to put each other out of 4
c. to cause buyers to have to be careful about spending their money
d. to act as a motivating force behind the free market

Answer

the closest answer is to act as a motivating force behidn the free market.
the purpose of competition is for businesses to try to outdo each other in order to earn more.
By doing this, businesses will come up with newer ways to please their customers.
From competition, we will come up with amazing innovative ideas and better products.
This is of course better for the consumers and better for the economy because there will be more productivity

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Virtual Teaching Assistant: Colleen R.
Question Level: Basic
Karma: Free
Upload Date: 5/31/2017

This 53 words question was answered by Colleen R. on StudySoup on 5/31/2017. The question contains content related to Business Since its upload, it has received 159 views.

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