the role profit motive and competition plays in the free enterprises system is for incentive and a way to measure success in a free enterprise systems. competition provides choice, and force companies to improve quality and become more efficient.


price competition is where a company tries to distinguish its product or services from competing products on the basis of low price.

Non price competition is a market strategy which one firm tries to distinguish its product or service from competing  products on the basis of attributes and workmanship.


Needs is something you must have to survive and wants is something you would like to have.

The relationship between cost and profit is the calculation of the of the overall valve of a business venture.



Supply depends upon the demand of a commodity and demand refers to the quantity of a commodity which a consumer is willing to buy at given price.