Competition because it lowers prices and increases supply

Assignment Help Business Economics

Reference no: EM131166321

As consumers we loke competition because it lowers prices and increases supply. Many products and services we use started out with limited choices and high prices. Then for various reasons more competitors entered the market and our choices increased and prices fell. What is an example you can think of where more competition has brought you more choice and lower prices? Is it always good? Is there a downside to it?

Reference no: EM131166321

Questions Cloud

Do you think that a manager job is universal : Do you think that a manager's job is universal? In other words, is the concept of management the same in any organization (withstanding the obvious differences in responsibilities and duties)? If possible give examples that support your point from an..

Market capitalism and stakeholder model : Which stakeholder group is primary in both the Market Capitalism and Stakeholder model? Which type of economy allows private individuals and corporations to own the means of production and compete in a free market? The theory that government should i..

Objectives and programs for national security : After reviewing and analyzing “A Report to the President Pursuant to the President's Directive of January 31, 1950.” from the NSC 68: United States Objectives and Programs for National Security, explain why you think the United States entered into th..

Providers of official development aid : Discuss the distinguishing features of the Northern Providers and the Southern Providers of Official development aid and explain how the emergence of the Southern Providers has influenced the development financing process in developing countries.

Competition because it lowers prices and increases supply : As consumers we loke competition because it lowers prices and increases supply. Many products and services we use started out with limited choices and high prices. Then for various reasons more competitors entered the market and our choices increased..

It is too costly for you to continue running your shop : Suppose you own and operate a coffee shop in your hometown. Each year, you receive revenue of $200,000 from coffee sales, and it costs you $100,000 to obtain your raw materials. In addition, you pay $20,000 for electricity, taxes, and other expenses ..

Frictional unemployment equals structural unemployment : Cyclical unemployment is equal to zero when: there is no recessionary gap. there is no expansionary gap. actual GDP and potential GDP are equal. frictional unemployment equals structural unemployment.

Impact producer behavior or consumer behavior : Consider the market for pizza. Indicate whether each of the following events is more likely to impact producer behavior (supply) or consumer behavior (demand). Will supply/demand increase or decrease?

The role of science in public policy : Reading: Haller, S. F. & Gerrie, J. (2007). The Role of Science in Public Policy: Higher Reason, or Reason for Hire? Journal of Agricultural and Environmental Ethics, 20(2), 139-165. Retrieved from ProQuest database.

User Account

All Pages