A. the existence of competition
B. the very few numbers of participants
C. the commitment of the shareholders
D. government regulation of their activities
Correct Answer: Option A
A. the existence of competition
Explanation
Competition leads to efficiency because businesses that have fewer costs are more competitive and make more money. Innovation is encouraged because it provides a competitive edge and increases the chance for wealth.
Veterinary medicine is the branch of medicine that deals with the prevention, diagnosis, and treatment…
Anthropology is the scientific study of human beings and their cultures. It encompasses a wide…
Sociology is the scientific study of human society, culture, and behavior. It examines the social…
Social Work is a profession dedicated to helping individuals, families, and communities to cope with…
Religious studies is an academic discipline that explores the beliefs, practices, and history of various…
Public administration is the field of study and practice that focuses on the organization and…