Sociology, asked by khoziiolerinah, 2 months ago

explain the role of compitation in capitalism

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Answered by rajeaiswarya907

Answer:

Competition is the other vital attribute of a capitalist system. ... The principle of competition forces businesses to maximize efficiency and offer their products at the lowest prices the market will bear, lest they get put out of business by more efficient and better-priced competitors.

Answered by RoyalQueen007

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Competition is the other vital attribute of a capitalist system. ... The principle of competition forces businesses to maximize efficiency and offer their products at the lowest prices the market will bear, lest they get put out of business by more efficient and better-priced competitors.

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