English, asked by mjgammgili, 4 months ago

What is the role of competition and efficiency in the economy​

Answers

Answered by nehabhosale454
68

Answer:

Low barriers to entry – the entry of new firms provides competition and ensures prices are kept low in the long run. ... Economic efficiency – competition will ensure that firms move towards productive efficiency.

Answered by niharikagurjar2005
16

Answer:

Low barriers to entry – the entry of new firms provides competition and ensures prices are kept low in the long run. ... Economic efficiency – competition will ensure that firms move towards productive efficiency

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