How do nearby businesses with similar products usually compete?
a. offering deals and low prices**
b. changing to different product types
c. lowering the level of service to save costs
d. establishing a minimum price for everyone to use

Whar is a positive effect of competiton?
a. increased value for consumers**
b. increased wages for workers
c. increased profits for producers
d. increased incentives for investors

How has the dedication to a market economy changed the US goverment?
a. it led to the Bill of Rights
b. it led to support for workers' rights
c. it led to a belief in freedom of enterprise
d. i led to a preference for producers rights over cosumer right

What does greater competiton among sellers usually lead to?
a. lower prices and fewer choices for buyers
b. lowers prices and more choices for buyers**
c. higher prices and fewer choices for buyers
d. higher prices and more choices for buyers

What does greater competition among buyers usually lead to?
a. resources going to those who are willing and able to pay more
b. resources being more readily available to all who want them
c. companies making products unavailable
d. companies developing new non-price competition approaches