Question

How do consumers benefit from competition among businesses?

A)Competition leads to lower prices.

B)Competition leads to lower taxes.

C)Competition leads to jobs.

D)Competition leads to democracy.

Answer 1

A) Competition leads to lower prices.

Step-by-step explanation:

When you are competing with another businesses, lowering your prices/having better prices than the other businesses will attract more consumers/costumers. Example: If two business both do laptop repair and both are good but one does it cheaper than the other company, consumers would probably choose the cheaper business because consumers want to save money.

Answer 2

Competition leads to lower prices as businesses try to grab the consumers attention and money and the best way to do that is to lower the price to attract them in