In a capitalistic economy, competition ensures that a firm will survive only if it serves its customers well by providing products and services that meet needs.
Capitalism refers to an economic system in which the production and distribution of goods and services are determined by the market forces of demand and supply. The private sector is able to operate freely with little to no government interference.
One important feature of capitalism is competition. In a capitalist economy, private businesses and enterprises compete with each other to supply consumers with their demands.
To capture more share of the market, businesses compete to provide better quality products and services to customers, at more attractive prices and faster speed. The customers benefit from this competition, as only firms that serve them well can survive.
To learn more about capitalistic economy : brainly.com/question/3206355
#SPJ4
