Which is one downside to competition in a free-enterprise system? a) consumers must be knowledgeable. b) consumers have limited choices. c) the quality of goods often suffers. d) the price of goods often decreases.

Consumers have limited choices is one downside to competition in a free-enterprise system.

Further Explanation:

Free enterprises area form of economy where services, product, and price is determined by the market. It will be a form of Capitalism, not communism. Products that are free are unconstrained and businesses are enterprises referring to the economy free from government.In this form enterprises are having the right to freely pursue business activity without interference from the government, aiming only at making profits. Examples of nations having a free enterprise system are the United States, Singapore and many other European Countries. Though theoretically it is said that the system is free from administrative interference but often interference is seen in many nations.

Having many advantage in a free enterprise it also have some disadvantages, as in this system consumers are provided with limited choices. It is resultant of the consequence that big companies become dominant in the market leaving behind fewer choices for the buyers. It also reduces the opportunities for the growing local businesses and its accessibility to buyers.  

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Answer Details:

Grade: High school

Subject: History

Chapter: Free enterprises

Keywords:

Free enterprises, where services, product, price, Capitalism, communism, government, making profits, United States, Singapore, European ,Countries, local businesses

A

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