Responses
Producers will be motivated to decrease profit by increasing quality.
Producers will be motivated to decrease profit by increasing quality.
The government regulates the products to ensure that the quality remains high. Control of the price ensures that it remains reasonable.
The government regulates the products to ensure that the quality remains high. Control of the price ensures that it remains reasonable.
Producers will be motivated to improve quality to differentiate their product in the market.
Producers will be motivated to improve quality to differentiate their product in the market.
Producers will be motivated to decrease costs by increasing quality.
1 answer
Producers will be motivated to improve quality to differentiate their product in the market.
In a free enterprise system, competition encourages producers to enhance the quality of their products to attract customers and gain a competitive edge. Higher quality can lead to increased customer satisfaction and loyalty, driving sales and profit.
