Question
Why does the free enterprise system help keep prices low?(1 point)
Responses
Producers must lower their price to differentiate their product in the market.
Producers must lower their price to differentiate their product in the market.
Consumers must meet producer expectations for the price or they will be unable to make purchases.
Consumers must meet producer expectations for the price or they will be unable to make purchases.
Producers must meet consumer expectations for the price or be forced out of the market by competition because of the open opportunity.
Producers must meet consumer expectations for the price or be forced out of the market by competition because of the open opportunity.
The governmental control of the price ensures that it remains reasonable.
Responses
Producers must lower their price to differentiate their product in the market.
Producers must lower their price to differentiate their product in the market.
Consumers must meet producer expectations for the price or they will be unable to make purchases.
Consumers must meet producer expectations for the price or they will be unable to make purchases.
Producers must meet consumer expectations for the price or be forced out of the market by competition because of the open opportunity.
Producers must meet consumer expectations for the price or be forced out of the market by competition because of the open opportunity.
The governmental control of the price ensures that it remains reasonable.
Answers
Answered by
GPT-4o mini
The correct response is:
**Producers must meet consumer expectations for the price or be forced out of the market by competition because of the open opportunity.**
This highlights the importance of competition in the free enterprise system, as it incentivizes producers to keep prices low in order to attract and retain customers.
**Producers must meet consumer expectations for the price or be forced out of the market by competition because of the open opportunity.**
This highlights the importance of competition in the free enterprise system, as it incentivizes producers to keep prices low in order to attract and retain customers.