Fair competition among businesses:
A) is consistent with the goals of socialism.
B) is a primary feature of a communist economic system.
C) ensures that everyone is a winner.
D) drives higher quality and lower prices in capitalism.

Question

Quizplus · Accepted Answer

Fair competition among businesses drives higher quality and lower prices in capitalism. This is because businesses are incentivized to improve their products and services in order to attract customers and beat out competitors. This benefits consumers as they have access to better quality products and services at lower prices. Fair competition is not consistent with the goals of socialism or a primary feature of a communist economic system as these systems aim to reduce or eliminate competition through collective ownership or central planning. It also does not ensure that everyone is a winner as some businesses may fail in a competitive market.

Fair Competition Among Businesses