Lesson 1, Topic 1
In Progress

1.5 The advantages and disadvantages of competition are explained with examples for the consumer and business.

ryanrori December 22, 2020

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The advantages are simple – it elicits the best performance from all role players. As said previously it is the mainspring for improved products leading to a higher standard of living for all. The disadvantages, I guess, is that it is unforgiving – if you don’t improve you lose out.