Monday, November 8, 2010

Competition

Competition inspires action and the drive to become the best. Right sided economic structures promote capitalism and therefore, inspires competition. With this type of economy set in place, with little government interference, and no special tax cuts, everyone tries to make a profit, and as big of one as they can. This means that they will do everything they can to make their product more appealing than their competitors, this can be done either by improving their product, or by reducing the price at which it is sold at. Ultimately, making the product as appealing to the customer as possible. As a result, more people will buy that product, and get better value for their dollar. Also, capitalism prevents stagflation, which is inflation that hasn't been antagonized by an action in the economy.

With everyone fighting to earn a buck, they are creating a stronger economy while doing so. Everyone is encouraged to work, and with the competitive nature of the economy, people who slack off, in other words, people who hurt the economy, will suffer.

1 comment:

  1. i am happy studying your article.I feel this is among the most vital info about Competition.

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