"Competition is not only the basis of protection to the consumer, but is the incentive to progress"
- Herbert Hoover
About this Quote
Herbert Hoover's quote talks to the significance of competitors in the market. Competitors is beneficial to consumers since it motivates organizations to provide much better services and products at lower prices. This competitors likewise encourages services to innovate and develop new products and services that satisfy the requirements of consumers. Competition likewise assists to guarantee that services are held accountable for their actions which they are providing quality products and services. Competition is an important part of a healthy economy and it is important for development. Without competition, companies would have no reward to enhance their products and services, and consumers would be stuck to inferior services and products. Competitors is necessary for progress and it is the basis of protection for the customer.
This quote is written / told by Herbert Hoover between August 10, 1874 and October 20, 1964. He was a famous President from USA.
The author also have 34 other quotes.
"In my case Pilgrim's Progress consisted in my having to climb down a thousand ladders until I could reach out my hand to the little clod of earth that I am"
"Law and order exist for the purpose of establishing justice and when they fail in this purpose they become the dangerously structured dams that block the flow of social progress"
