2006-07-20 04:48:37 · 5 answers · asked by helpaneed 7 in Local Businesses ➔ Other - Local Businesses
I feel actually benefited! My competition let me perform better, because I constantly have to exceed in their brilliance! So I get inspired by them and then just have to improve on it!
Therefore I say we do indeed need competition in the market, it offers improved and quality products to the users and promotes outstanding services.
I must admit though, how much nicer could it be to have the monopoly!
2006-07-20 05:08:56 · answer #1 · answered by Sunbeam 5 · 3⤊ 1⤋
competition keeps prices low and in the range of what products are really worth. While this doesn't necessarily benefit the business owners the consumer if paying a more accurate value for the item or service. Just think, if there were only one cell phone service provider out there, say cingular, they'd charge extortion-like fees; it's the presence of competitors like t-mobile and verizon that keep prices low.
2006-07-20 04:54:14 · answer #2 · answered by ? 2 · 0⤊ 0⤋
Competiton is the invisible hand that keeps prices in check, imagine for a moment that the ice cream parlor in your town had no competitors, they would charge you $ 50 for a chocolate ice cream cone...and so on.
2006-07-20 06:51:07 · answer #3 · answered by WJW 2 · 0⤊ 0⤋
Competition is good because it makes you strive to be the best.
2006-07-20 05:13:52 · answer #4 · answered by Anonymous · 0⤊ 0⤋
This sounds like a question on a homework assignment.
2006-07-20 04:51:57 · answer #5 · answered by Ralfcoder 7 · 0⤊ 0⤋