which situation is the best example of competition in an economic system?\na restaurant just opened down the…

which situation is the best example of competition in an economic system?\na restaurant just opened down the block from a movie theater, and the restaurant owner hopes to attract diners after each movie.\na small cd store slashed its prices to attract customers from a larger store that sells cds and dvds.\na store that sells sneakers has offered a special deal to customers from a nearby health club.\na federal agency has been created to monitor the production and distribution of food supplements.

which situation is the best example of competition in an economic system?\na restaurant just opened down the block from a movie theater, and the restaurant owner hopes to attract diners after each movie.\na small cd store slashed its prices to attract customers from a larger store that sells cds and dvds.\na store that sells sneakers has offered a special deal to customers from a nearby health club.\na federal agency has been created to monitor the production and distribution of food supplements.

Answer

Brief Explanations:

Competition in an economic system involves businesses vying for customers. A small CD - store slashing prices to attract customers from a larger store is a clear example of competition as it's a direct attempt to gain market share from a rival. The restaurant near the movie - theater is not competing with the theater, the sneaker store's deal with the health - club is a marketing strategy not competition, and the federal agency is for regulation not competition.

Answer:

A small CD store slashed its prices to attract customers from a larger store that sells CDs and DVDs.