The correct answer is: As a result, products get <u>cheaper</u> and more people are able to afford them.
Competition provides incentives to companies to be efficient so that they can manufacture at the lowest cost. This would enable them to fix a lower price than that of its competitors. Companies also make an effort to produce high quality products so that consumers become loyal to their brand.
<u>Competition is also benefitial for consumers</u>, as they can purchase cheaper and higher quality products. As the answer suggests, more people will be able to afford a product that is subject to competition.
Economic globalization forces local companies to compete with FOREIGN businesses. To compete, businesses strive to offer the best quality at the lowest price. As a result, products get CHEAPER and more people are able to afford them.
The French were dependent on the fur trade, while the Spanish were dependent on the sugar trade. ... The Spanish built relationships with American Indians, while the French forced their culture onto them.
