Competition and profit motives plays very important role in which economy? A) Socialist B) Capitalist C) Imperialist D) Mixed
Answers
Answer:
Mixed
Explanation:
Answer:
When firms compete with each other, consumers get the best possible prices, quantity, and quality of goods and services. Innovation also benefits consumers with new and better products, helps drive economic growth and increases standards of living.
Competition law is essentially concerned with the study of markets, the objective being to ensure that there is competition between the suppliers in any market and that this competition benefits consumers. At the day-to-day level, applying competition law involves identifying markets and assessing whether competition is working well in those markets. It involves assessing how the actions of firms will affect competition and consumers. These are essentially economic issues.
Explanation:
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