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sandlee09

Given what we know, we can confirm that capitalism encourages businesses to be more efficient to compete successfully on the price and quality of the product.

Why does capitalism encourage this competition between businesses?

  • This is due to the fact that through capitalism, there are more entities offering the same service.
  • This means that consumers will have to choose where to buy.
  • This will be based on the price and quality of the service or product.
  • Therefore, businesses are forced to compete in these areas to attract customers.

Therefore we can confirm that capitalism encourages businesses to be more efficient to compete successfully on the price and quality of the product in order to attract the limited amount of consumers for a product that is offered by many companies.

To learn more about capitalism visit:

https://brainly.com/question/26119138?referrer=searchResults

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