Transcription of How Competition Works - Consumer Information
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How Competition Works - Consumer Information
FTC Fact Sheet: How Competition Works C ompetition in the marketplace is good for consumers and good for business. Competition from many different companies For example, your aunt or grandmother probably grew up listening to music played on a bulky cassette or CD player. They might and individuals through free enterprise even remember vinyl records or eight-track and open markets is the basis of the tapes! Innovation made those players obsolete. economy. When firms compete with each Now people maybe even your parents are other, consumers get the best possible downloading music from the Internet onto prices, quantity, and quality of goods and small digital audio players. You might have services. Antitrust laws encourage companies a digital media player that lets you listen to to compete so that both consumers and music AND watch music videos and movies.
FTC Fact Sheet: How Competition Works C ompetition in the marketplace is good for consumers and good for business. Competition from many different companies and individuals through free enterprise and open markets is the basis of the U.S. economy. When firms compete with each other, consumers get the best possible
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