Question

Which benefit is the result of competition?

a. Increased efficiency
b. incentive to work harder
c. development of new markets
d. control of the business cycle

Answer 1

The benefit of the competition is C

the development of new markets

Step-by-step explanation:

If there is competition in any type of market (more offer of the product or service) the result is the improvement of the product, the development of new ways of having customers to differentiate themselves from the competition

Answer 2

The benefit of the result of competition is increased efficiency.

A: Increased efficiency can be defined as the ability to do something on time i.e without wasting time. Efficiency can be increased by companies when they give duties to qualified employees who will do their job well. This can also be achieved by recognizing workers for a job well done. This will make them feel good and encourage them to continue to increase their productivity.