1.Whenever a new product and service is released, consumers can have more products to choose from. Let's take phones for example, a lot of brands will do their best to give the best specifications for an affordable price. From the competition, the consumers experience benefits.
2.Businesses are great for suppliers and investors. Their capital and income is increased if the product sold is appealing to the mass. But, if the product does not have enough appeal, the suppliers and investors experience loss both in income and capital.
Answers & Comments
1.Whenever a new product and service is released, consumers can have more products to choose from. Let's take phones for example, a lot of brands will do their best to give the best specifications for an affordable price. From the competition, the consumers experience benefits.
2.Businesses are great for suppliers and investors. Their capital and income is increased if the product sold is appealing to the mass. But, if the product does not have enough appeal, the suppliers and investors experience loss both in income and capital.
That's what I think :/
Feel free to express your opinions.