Which statement about competition is true

Here are the full options for this question:

a. it results in more economic choices for consumers

b. it allows most businesses to make a profit

c. it creates artificially high prices for products and services

d. it slows down innovation in the marketplace?

The answer is: a. it results in more economic choices for consumers

Explanation:

When producers compete against one another in the market, they will most likely make efforts to make their products become more appealing for the consumers.

In order to do this, they will start to adding varieties to their product , such as creating new flavors for ice cream that are generally fancied a certain  demographic, adding new features on their apps to cater to the needs of people with a certain type of job, creating new designs for clothes that compliment a certain body type, etc.

This will resulted in very wide variety of products available for the consumers in the market, hence creating more economic choices for them.

on december 1, 1774, the continental association was created to boycott all contact with british goods. by reversing the economic sanctions placed on the colonists, the delegates hoped britain would repeal its intolerable acts.

the first settlements began along the huang river because of the importance of the huang river in the beginning of china. it goes back to the story, “the tale of emperor yu”, which references the tale of the great flood, which was caused by the huang river and was believed to create and influence china’s making.