What is a positive effect of competition?
1 answer
A positive effect of competition is that it can drive individuals, businesses, or countries to improve and innovate. Competition spurs creativity and motivation, forcing participants to constantly strive for excellence and find new ways to differentiate themselves from others. This can result in the development of improved products or services, more efficient processes, and overall advancements in various fields. Competition also tends to lead to lower prices for consumers as competitors try to offer better value for their products and win over customers. Additionally, healthy competition can provide opportunities for individuals to showcase their talents, build networks, and develop valuable skills.