May 2024
Intermediate to advanced
688 pages
51h 31m
English
Content preview from Business Environment, 1st Edition by Pearson
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Part V: Economic Legislations
THE BENEFITS OF COMPETITION
Competition improves the conduct of managers, as they under-
stand that in such markets only the fi ttest can survive. This, in turn,
improves quality of products and reduces prices for consumers, and
maintains or increases market share, and return on shareholders’
investment. Consumers in economies having hitherto restricted
competition as in India are reaping these benefi ts. In a much freer
market they enjoy a wide variety of products and services to choose
from, competitive prices, technically updated products and other
consumer friendly policies such as easy and instalment credit, lon-
ger warranties, etc.
These benefi ts of competition can be analysed from two aspects: ...
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