Why Is Fair Competition Important in the Private Enterprise System

Multiple Choice

Why is fair competition important in the private enterprise system?

A) Fair competition allows firms to compete in the marketplace, knowing that they won't be subjected to excessively aggressive practices that are designed to eliminate them.
B) Fair competition requires that firms inform their competitors when prices will be reduced so that consumers will receive the lowest possible price.
C) Fair competition supports the goal of private property ownership.
D) Fair competition allows employees to choose their own employment, negotiate wages, and join labour unions.