Question

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.

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.

Answer 2

Answer:

Not only will this benefit consumers because more people will be able to afford things, but it will also help businesses. Better quality: In order to attract more customers and expand market share, businesses are encouraged to improve the quality of the goods and services they sell. Quality can refer to a variety of things, such as products that last longer or perform better.

Explanation:

ifunny is dankreloaded