What is the role of competition and efficiency in the economy
Answers
Answered by
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
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
Similar questions
Social Sciences,
25 days ago
English,
25 days ago
Math,
25 days ago
Social Sciences,
1 month ago
Social Sciences,
7 months ago
World Languages,
7 months ago
Math,
7 months ago