THOUGHT FOR THE DAY

Wisdom

"There is a wisdom of the head and a wisdom of the heart."

- Charles Dickens

TOPIC OF THE DAY

Competition

Competition is the battle between businesses to win consumer acceptance and loyalty. The free-enterprise system ensures that businesses make decisions about what to produce, how to produce it, and what price to charge for the product or service. Competition is a basic premise of the free-enterprise system because it is believed that having more than one business competing for the same consumers will cause the products and/or services to be provided at a better quality and a lower cost than if there were no competitors. In other words, competition should provide the consumers with the best value for their hard-earned dollar.

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Reshaping economic geography by The World Bank