In three to four sentences, explain the effect of competition on the price of goods and services and whether or not this is a good thing for consumers.

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Dana Oneal

Social Studies

1 May, 08:28

In three to four sentences, explain the effect of competition on the price of goods and services and whether or not this is a good thing for consumers.

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Konnor Holmes · Answer 1

Not only is this good for consumers - when more people can afford to buy products, ... Better quality: Competition also encourages businesses to improve the quality of goods and services they sell - to attract more customers and expand market share. Quality can mean various things : products that last longer or work better.