Competition in economics
By Elijah Vance
How competition in the market helps
Competition between two products causes the fight for the lowest price and best quality, which pays off for the consumer. It also causes faster advancements in technology, which helps us continue to move forward in society.
Examples of Competition in out economy.
SMARTPHONES - Samsung Galaxy S5 vs. the iPhone 6
GAMING CONSOLES - Xbox One vs. the Playstation 4
Portable PCs - Macbook Pro vs. the Microsoft Surface