Question

As the only clothes producer, you will not have _____. competition profits production costs

Answer 1

The correct answer is A. Competition

Explanation:

In the economy, competition occurs when there are two or more companies or economic firms producing and selling the same product. This causes the companies to implement different techniques to try to sell more than other companies, also, in this case, factors such as price, quality, or place play an important role in defining the sales of each company.

This also implies, if you are the only producer of some good for example, telephones, clothes or sculptures in a specific place such as a town, city or country, you will not have competition because there would not be other companies or people producing the same goods, and therefore you will not have to compete or do anything for buyers to choose you instead of others. Thus, as the only clothes producer, you will not have competition.

Answer 2

COMPETITION because your the only one producing clothes.