Question

Activity 6

1. Choose 2 business that are straight competitors (Business that have the same nature of product) and Compare their Strategies against each other in 200 words.​

2. What is the Economic impact of these competitors to the Economy?

Answer 1

Explanation:

the Economic impact of these competitors to the Economy are Competition among sellers lowers costs and prices, and encourages producers to produce more of what consumers are willing and able to buy. Competition among buyers increases prices and allocates goods and services to those people who are willing and able to pay the most for them.