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
1 answer
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.