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

Answer:

Basic economic theory demonstrates that when firms have to compete for customers, it leads to lower prices, higher quality goods and services, greater variety, and more innovation.[1] Competition is critical not only in product markets, but also in labor markets.[2] When firms compete to attract workers, they must ...