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  • Reasons we are able to buy good quality products at low prices
  • If any of these things happened, our lifestyle would be in danger!
  • Yellow card for violations of the rules!
  • What kinds of incidents occurred in the past?

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Reasons we are able to buy good quality products at low prices Necessity of competition in the markets

What would happen if there was no competition?

If there was no competition in the markets, companies woud neglect technological development and cost reduction efforts. Price and service would become more advantageous to companies, and consumers would result in no receipt of benefits.
Now, let us take a look at what would happen if there was no competition in the markets.
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