Economics H/W- need help
To what extent do supermarkets operate in a competitive market?
- Posted:
- 3+ months ago by dreamyalyaa
- Topics:
- supermarket, market, competition, economics, economic
Details:
Answers (1)
urgh didnt want your stupid reply, since you don't know the answer either. STOP paedofiling me online... :/
To what extent do supermarkets operate in a competitive market?
They use legal ways to get the customers to buy their product in the law.
Identify five examples of way in which supermarkets compete with each other
Lowering prices.
Upgrading the quality of the product/service
Advertising competitively and showing statistics
Using the 4 P's together.
Do consumers benefit from the competitive markets?
Yes they do, when markets make prices lower and upgrading quality, that appeals to the consumers. If there was a market not being competitive his price would stay the same example: £20. If he was competitive his price would lower down to make consumers go for the product/service example: £15 That benefits consumers because they saved £5.