Which economic practice helps motivate companies to keep prices low and improve product quality?

Question

(1 point)
Responses

A) combination

B) consolidation

C) competition

D) overproduction
I think its C, thoughts?

Answer 1

Yes, you are correct. The economic practice that helps motivate companies to keep prices low and improve product quality is competition. When companies have to compete with each other for customers, they are motivated to lower prices and improve the quality of their products in order to attract more customers.