Competition plays a crucial role in a free market. It encourages innovation, leads to better products and services, and can result in lower prices for consumers. It also helps to prevent monopolies and promotes a wider variety of choices for consumers. In a competitive market, businesses strive to gain an edge over their rivals and this often leads to improvements in efficiency and quality.
Economics can be intimidating to the person who is not well-versed in business and mathematics. This...
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