How do nearby businesses with similar products usually compete?
(1 point)
Responses
offering deals and low prices
offering deals and low prices
changing to different product types
changing to different product types
lowering the level of service to save costs
lowering the level of service to save costs
establishing a minimum price for everyone to use
offering deals and low prices
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