What is one downside for consumers to competition in a free enterprise system

Consumers must be knowledgeable

Consumers have limited choices

The quality of goods often suffers

The price of goods often decreases

Question

Giana Boyer

History

23 April, 23:07

What is one downside for consumers to competition in a free enterprise system

Consumers must be knowledgeable

Consumers have limited choices

The quality of goods often suffers

The price of goods often decreases

+4

Answers (2)

Know the Answer?

Amaris · Answer 1

A) Consumers must be knowledgeable

Explanation:

yes

Francis Escobar · Answer 2

Answer: Consumers must be knowledgeable

A free enterprise system would result to economic prosperity for consumer's demands will be provided with high quality products at a lower cost.

However, one downside of this is that consumers will be more knowledgeable of the product and have the tendency to purchase only those particular choice of goods. Then, producers will control the products by purposely withhold supply from entering the marketplace and establish artificial price hike. Moreover, the free enterprise system will also limit to consumers the access to suitable alternative products.

What is one downside for consumers to competition in a free enterprise systemConsumers must be knowledgeableConsumers have limited choicesThe quality of goods often suffersThe price of goods often decreases

What is one downside for consumers to competition in a free enterprise system

Consumers must be knowledgeable

Consumers have limited choices

The quality of goods often suffers

The price of goods often decreases