Competition is the precondition of

Competition is the precondition of free-enterprise system since more businesses are competing with each other, the more product or sevice with higher quality will be provided comsumer. In other word, competition gives the consumers the best of their money.
When the competitors enter the market from all sides, consumer will get more benefit from that competition because the competitors will put pressure on price, quality, design, technologies. It help consumers more opportunities in choosing product or services. The benefit consumer are enjoyed include:
-lower prices: one common company’s method use is to offer lower prices than the competition, which benefits the consumer. Lower prices may come in the form of special sales promotion, such as coupons or discount, or the implementation of pricing strategy where lower prices are an everyday occurrence.
-better quality: competition also encourages businesses to improve the quality of goods and services they sell- to attract more customers expand market share. Prices for a product can be same or sometimes even higher than the price offered by a competing company, provided that the item is so good that customers will really want it. Bussinesses can offer a better quality product to get customers to choose them.
-better after sales service: a competition economic system benefits the cosumer in better quality of sevice. Companies that may not be able to beat their competitors on price can instead focus on delivering superior customer service can lead to customer loyalty. The consumer benefits by being “ taken care of” by the company.
Consumer information: heightened competition means more information that is accessible to consumers to help them make informed decisions. In the age of internet, consumers may log on to the websites of several competing companies to gather information that a 30-second television commercial cannot convey. By making comparisons, the consumer can feel more confident in his ultimate buying decision.
Wider choice: in a competitive market, businesses will try to make their product different from their competitor. This results in greater choice-so consumers can select the product that offers the right balance beetween price and quality.