Competition and Its Importance
Understanding why competition among businesses is good for consumers and the economy.
Key Questions
- Explain why having many businesses competing for customers generally leads to lower prices and better quality products.
- Discuss what happens when there is only one or very few businesses selling a product (e.g., less choice, potentially higher prices).
- Identify ways governments encourage competition in markets.
MOE Syllabus Outcomes
Suggested Methodologies
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