BBI10pg119-120.pdf - BENEFITS What new businesses may have started because of this product OF COMPETITION Competition contributes to our economy by

BBI10pg119-120.pdf - BENEFITS What new businesses may have...

This preview shows page 1 - 2 out of 2 pages.

B ENEFITS OF C OMPETITION Competition contributes to our economy by encouraging the creation of new businesses. One business starts with an idea, for example, a machine that records and plays television programs. Someone else thinks of a way to improve the product—by adding a remote control— and a new business opens to produce the new model. Still another business begins to manufacture a model with a playback system that provides sharper slow-motion images. These businesses also lead to other businesses. Companies start manufacturing videocassettes. Other companies start making video cameras. Video rental stores open. Each of these businesses encourages competition. Competition in the video rental business, for example, has lead to larger video stores that provide better and larger selections, better service, and “extras” like magazines and snacks. Each new busi- ness provides jobs and salaries, and is dependent on even more businesses.
Image of page 1
Image of page 2

You've reached the end of your free preview.

Want to read both pages?

  • Spring '19
  • rohda

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern

Stuck? We have tutors online 24/7 who can help you get unstuck.
A+ icon
Ask Expert Tutors You can ask You can ask You can ask (will expire )
Answers in as fast as 15 minutes
A+ icon
Ask Expert Tutors