Single Answer MCQ
Q-00015745
What is a potential consequence of increased competition due to foreign trade?
1
Higher prices for goods
2
Improved quality of products
3
Reduction in consumer choice
4
Less innovation in product development
Answer and Solution
Answer
B. Improved quality of products
Solution:
Increased competition can encourage businesses to improve the quality of their products and enhance their services, as consumers are more likely to choose higher-quality or better-priced options.
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