What is one downside for consumers to competition in a free enterprise system consumers must be knowledgeable consumers have limited choices the quality of goods often suffers the price of goods often decreases

Consumers must be knowledgeable

A free enterprise system would result to economic prosperity for consumer’s demands will be provided with high quality products at a lower cost.

However, one downside of this is that consumers will be more knowledgeable of the product and have the tendency to purchase only those particular choice of goods. Then, producers will control the products by purposely withhold supply from entering the marketplace and establish artificial price hike. Moreover, the free enterprise system will also limit to consumers the access to suitable alternative products.

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