Economy, asked by chiraga658, 1 year ago

how does competition in the market benefit the consumers?

Answers

Answered by DivyamJaiswal
13

competition in the market will bring more and more advanced and useful things. they will also try to sell items at low price to attract the customers to them hence benefitting the consumers more and more

Answered by Priatouri
2

In the following ways, the competition in the market benefit the consumers:

1. The availability of a single type of product in a large number reduces the price of the product.

2. Consumers have a better choice.

3. Competition in the market also promotes companies to improve the quality of their product.

Similar questions