Watch the video and answer comprehension questions.

Industries without much competition are marked by high prices, low customer service, and a lack of innovation. But when competition thrives in a market, consumers get better goods and services at lower prices. Existing producers in the market don’t like competition, but it’s good for consumers. Some businesses will succeed and others will fail. But as long as it is easy for new competitors to enter the market, prices will stay low and innovation will continue.

Business Info: The Importance Of Competition

business-info-the-importance-of-competition

Let's do English ESL general vocabulary practice. Watch the video and answer comprehension questions.