What is a positive effect of competition?

Question

(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 the above responses are correct. Competition can lead to increased value for consumers as businesses strive to offer better products and services at competitive prices. It can also lead to increased wages for workers as companies may need to attract and retain talented employees to stay competitive. Additionally, competition can drive increased profits for producers who are able to outperform their competitors. Finally, competition can create increased incentives for investors as they seek to invest in businesses that have a competitive edge in the market.

Answer 2

choose one

Answer 3

increased value for consumers