Competition Is a Reality of Term Paper

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While competition can therefore be favorable for both the manufacturer and consumer, it could also be beneficial for the economy in general. In addition to providing better quality and service, the competition in the motor industry for example creates an environment in which the consumer receives the best value for money. A wider variety of choice provides the consumer with many different options in terms of safety, aesthetic quality and pricing.

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In terms of job creation and provision, competition relates to compensation and bonus packages. Workers are attracted to motor companies with the best package available. Employees are attracted by packages including elements like bonuses and other incentives for excellent performance. In this way, competition results in a healthy, growing economy.

Source

Isidore, Chris. (2000, Dec. 12). "Ed of the road for Olds." CNN Money, 12 Dec. 2000. http://money.cnn.com/2000/12/12/companies/oldsmobile.....

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