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How do consumers benefit from competition among businesses?
Competition leads to jobs.
Competition leads to democracy.
Competition leads to lower taxes.
Competition leads to lower prices.
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Competition among businesses leads to lower prices for consumers as companies strive to offer the best value for their products and services. This ultimately benefits consumers by allowing them to access goods and services at competitive prices. Additionally, competition encourages businesses to innovate and improve their products in order to attract customers, leading to better quality products overall. Ultimately, competition among businesses benefits consumers by promoting efficiency, innovation, and lower prices.
1 answer