Question

What is a positive effect of competition?

(1 point)
Responses

increased value for consumers

increased value for consumers

increased wages for workers

increased wages for workers

increased profits for producers

increased profits for producers

increased incentives for investors

increased incentives for investors

Answer 1

All of these responses are correct. Competition can lead to an increase in value for consumers as companies strive to offer better products or services at competitive prices. It can also lead to increased wages for workers as companies try to attract and retain the best talent. Additionally, competition can result in increased profits for producers who are able to capture a larger market share. It also creates incentives for investors to support and back successful businesses.