Why is competition necessary in a free-market system?

Competition is necessary for a free-market system to keep the economy from crashing into nothing but monopolies. Without the healthy competition of many companies offering the same goods/services, the most prominent companies would monopolize the market; Meaning that if the company chose to price a singular pair of workboots at upwards of two-thousand dollars, then the customer would have to somehow pay that amount instead of being able to check another store for a pair of workboots that are more reasonably priced for their budget.

3 notebooks and 3 pencils packages

step-by-step explanation:

((3×1.25)+(3×2.75))=12

3×1.25=3.75

3×2.75=8.25

3.75+8.25=$12