What is a possible downside of competition for consumers?

Competition among businesses typically leads to various benefits for consumers, such as improved product quality, reduced prices, and increased variety in product offerings. However, one potential downside of competition is the creation of harmful products. In a highly competitive market, businesses may prioritize profit over consumer safety and ethics, leading to the development and sale of products that are not adequately tested or that contain harmful substances. This can occur when companies cut corners in order to reduce costs and remain competitive, or when they focus on producing trendy items that may not be genuinely safe for consumer use. Thus, while competition can drive innovation and lower prices, it also poses risks if firms do not adhere to safety standards or ethical practices.