Answer to Question #235708 in Psychology for Phindile Dlamini

Question

Explain how will your business be affected by your competitors if they sell the same toy at
a)17,00
b)25,00

Answer 1

Businesses may be prompted by competitiveness to develop lower-cost production methods, enabling them to improve profits and compete. Competition may also enable corporations to identify client necessities and developing new commodities or services to fulfill those requirements.