Increasing Competition | Increasing Stress | Dr. Manishika Jain
Channel: TECK BD 24
Date: 2024-03-09

Increasing Competition | Increasing Stress | How to Balance | Dr. Manishika Jain

✍️Industries with little competition are characterised by exorbitant costs, poor customer support, and a dearth of new ideas. However, customers benefit from cheaper costs and better goods and services when a market is highly competitive. The market's current producers dislike competition, even though it benefits customers. There will be successful firms and unsuccessful ones. However, as long as it is simple for new rivals to join the market, innovation will continue and prices will remain low.