In three to four sentences, explain the effect of competition on the price of goods and services and whether or not this is a good thing for consumers.

Competition and the price of goods and services have a direct relationship. If there is more competition in a specific market then prices tend to lower; this is a good thing for consumers. For example; two companies are competing to sell more cell phones than their rival. If one company figures out a way to lower production costs and sales, the other will soon follow to keep up with the competition. 

Ithink its opportunity cost but not sure hope it .