Description
Since markets are more efficient when characterized by competition, why are so many markets in the United States not very competitive? For example, mergers and acquisitions seem to occur regularly and reduce competition. Consider for example the airline industry where large firms have merged and the tire industry where many brands prevail that are controlled by a few large firms.
Milton Friedman once said: “With some notable exceptions, businessmen favor free enterprise in general but are opposed to it when it comes to themselves”.
Do you agree with this statement? Why or why not? Incorporate appropriate and relevant ethical and biblical principles into your response.
PLEASE LABEL EACH QUESTION AND ADD A BIBLICAL SCRIPTURE.
