In profit is to provide goods the consumers

 In the free market system competition isn’t a bad thing. In a free market system, the only way for an individual or a company to make any profit is to provide goods the consumers want. “A free market system is an economic system in which decision about what to produce and in what quantities are decided by the market’s buyers and sellers.” Those goods must be better and more appealing than other competitors in your market that you are striving to achieve in. By trying to be better than the company next to you, you are bettering your company or service provided while also stimulating the economy. If there was no competition, there would be no influx of prices or no improvement to products. If there was lack of completion in the free market system, prices would increase. Without competition, consumers wouldn’t have a lot of choices.            I think one of the most obvious examples is the world of technology. If you think back to around 2001, that was when the first iPod was released. Other competitors caught on and started to make something similar. Apple then said well wait we could make this better, then came out with another version of iPod that had a screen. Again, other companies followed, so to be better Apple had to keep up, and better their products until you look at today’s model of iPod and its touchscreen, wireless headphones, wireless charging etc. If there was no completion what would be the point of Apple creating other products. If the first products were all consumer knew then they wouldn’t want anything more.            I believe there are somethings that could hinder the free market system. One being part of the free market is almost like being in an episode of survivor and it being survival of the fittest. Which sometimes could lead to poor quality of products, but again if that were to happen the company would lose their consumers and their demand for the product would decrease.  


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