How do nearby businesses with similar products usually compete?
a. offering deals and low prices**
b. changing to different product types
c. lowering the level of service to save costs
d. establishing a minimum price for everyone to use
Whar is a positive effect of competiton?
a. increased value for consumers**
b. increased wages for workers
c. increased profits for producers
d. increased incentives for investors
How has the dedication to a market economy changed the US goverment?
a. it led to the Bill of Rights
b. it led to support for workers' rights **
c. it led to a belief in freedom of enterprise
d. i led to a preference for producers rights over cosumer right
What does greater competiton among sellers usually lead to?
a. lower prices and fewer choices for buyers
b. lowers prices and more choices for buyers**
c. higher prices and fewer choices for buyers
d. higher prices and more choices for buyers
What does greater competition among buyers usually lead to?
a. resources going to those who are willing and able to pay more **
b. resources being more readily available to all who want them
c. companies making products unavailable
d. companies developing new non-price competition approaches
a.
a.
c.
b.
a.
Ms. Sue is wrong, 3 was incorrect but 5 was correct. I got one wrong and the answers I posted above were the corrected ones.
Hope this helps~ good luck with the rest of
ssilverlake is right
just got 100% with ssilverlake answers
a. offering deals and low prices
a. increased value for consumers
c. it led to a belief in freedom of enterprise
b. lowers prices and more choices for buyers
a. resources going to those who are willing and able to pay more
3 and 5 are wrong.
To answer these questions, let's break them down and explain how to arrive at the correct answer:
1. How do nearby businesses with similar products usually compete?
The correct answer is a. offering deals and low prices.
Nearby businesses with similar products often compete by offering deals and low prices to attract customers. This can be achieved through promotions, discounts, or special offers. To determine the answer, you can eliminate options b, c, and d as they do not align with the typical strategies of competing businesses.
2. What is a positive effect of competition?
The correct answer is a. increased value for consumers.
Competition encourages businesses to improve their products and services to attract customers. As a result, consumers can benefit from increased value, which can include lower prices, better quality, and more options. In this case, you can eliminate options b, c, and d as they do not capture the direct benefit for consumers.
3. How has the dedication to a market economy changed the US government?
The correct answer is b. it led to support for workers' rights.
The dedication to a market economy in the US has led to the adoption of various labor laws and regulations aimed at protecting workers' rights. The belief in the freedom of enterprise, as mentioned in option c, is indeed a characteristic of a market economy, but it does not directly address the changes in the US government. Therefore, you can determine the correct answer by eliminating options a, c, and d.
4. What does greater competition among sellers usually lead to?
The correct answer is b. lower prices and more choices for buyers.
Greater competition among sellers often leads to lower prices as businesses strive to offer competitive pricing to attract customers. Moreover, competition also leads to an increase in choices for buyers as sellers innovate or differentiate their products to gain a competitive edge. To arrive at the correct answer, you can eliminate options a, c, and d as they do not accurately reflect the outcome of greater competition.
5. What does greater competition among buyers usually lead to?
The correct answer is a. resources going to those who are willing and able to pay more.
In a competitive marketplace, buyers who are willing and able to pay more often have an advantage in acquiring resources. This is because sellers aim to maximize their profits by catering to those who are willing to pay a higher price, resulting in a more efficient allocation of resources. Therefore, you can determine the correct answer by eliminating options b, c, and d.