Greater price competition is due to the use of technology helping to drive down costs and greater levels of globalization and retail competition is helping to depress price levels.

Question

Quizplus · Accepted Answer

The use of technology allows for more efficient and cost-effective production and distribution, which can lead to lower prices for consumers. Globalization and increased competition in the retail industry also puts pressure on companies to keep prices low in order to attract customers.

Greater Price Competition Is Due to the Use of Technology