Competition among suppliers tends to drive prices down; competition among buyers tends to drive prices up.
<h3>How prices are determined in the market?</h3>
Price is one that tends to be dependent on the association that exist between demand and supply parts of a market.
Note that the Demand and supply stands for the willingness of customers and producers to be involved in buying and selling.
Therefore, Competition among suppliers tends to drive prices down; competition among buyers tends to drive prices up.
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