Which of the following best explains why competition is an important part of a free-market system?

Without competition, people would not have a lot of choices.

In economics, a free market is a system in which the prices for goods and services are determined by the producers and consumers, in which the laws of supply and demand are free from any intervention by a government or other authority.

In a free market, a choice on what products are produced, how, when and where they are made, its target market and at what price are all based on supply and demand.

Supply and demand create competition which in turn gives people a lot of choices, better quality at a lower price. 

Without competition, people would not have a lot of choices.

the correct answer is, it increases the amount which is being deposited in the bank account of people.

when the fed buys treasury   bonds it increases the amount which is being deposited in people's accounts.

treasury bonds are termed as long-term or secure investment which offers payment after every six months up to the maturity of the bond.

there is a fixed rate for every treasury bond whereby the interest rate is being determined by the auction.

there is an additional fees for those who have not yet opened accounts with local commercial banks.

temperance movement

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