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Why might collusion be detrimental to consumers?
Collusion is the basis for forming a monopoly. That inhibits the free market or the laws of supply and demand.
Does monopolists differ from perfect competitors because monopolists makes a profit?
Not because of that reason but rather a result of the different characteristic of the two market structures. Basis of difference : MONOPOLY PERFECT COMPETITION 1) Number of producer 1 Many 2) Knowledge imperfect perfect 3) Price setter/taker setter taker 4) Nature of goods no substitute/ imperfect sub. homogeneous 5) Barriers to entry very high no 5) Factor mobility Factor immobility perfectly mobile 6) Profits in LR supernormal/normal normal
How monopolistic competition like perfect competition?
Monopoly is a market structure where single seller sell its goods and service to large number of buyer. Monopoly firms itself industry because in monopoly only one seller are exists in market. Monopolistic market structure reflect the market situation where large no. of buyer and seller are enjoying. The main similarities between monopoly and monopolistic competition are as follow:- . 1) Both market are price maker i.e. price and level of output is decided by firm itself. 2) Large number of buyer are present in the market. 3) Product differentiated on the basis of size, brand, packing feature etc.
In a market or capitalist economy who makes the economic decisions?
The people in the market make these decisions on an individual basis.
What are the micro and macro environmental factors that have contributed to the early success of airasia?
moderately high due to almost no switching cost for customers to switch from one LCC to another. In addition, the access to the internet allows customers to have close to full information on prices charged by the LCCs. Threat of substitutes is moderately low; there are several substitutes such as cruises, rail, bus, and car. However, the archipelago geographical structure of Asia has made air travel the viable, efficient, and convenient mode of transportation. Threat of new entry is moderate; high capital requirement and government barrier such as air service agreement can act as barriers to entry. However, the deregulation of aviation industry in Asia Pacific region has resulted in more competitors entering the market. Furthermore, many full service airlines enter the LCC industry by launching their LCC version. For example, Nok Air set up by Thai Airways is a part of LCC industry in Thailand. Finally, industry rivalry is moderately high due to price as the basis of competition and high exit cost. However, market participants tend to realize that price war is destructive for them thus they avoid direct price competition and they turn into 'friendly' competitors. Appendix 3 summarises Porter's five forces specific to LCC industry. Based on the environmental scanning performed, the demand for LCC is expanding thus LCC industry will keep growing rapidly. The LCC industry attractiveness and profitability will attract many full service airlines to launch its LCC version adding the degree of rivalry in this industry. As the implication, AirAsia, current market leader of LCC in Malaysia, Thailand, and Indonesia, will face competition from both existing and new players. In order to sustain its competitive advantage, AirAsia needs to leverage its competency in creating cost advantages across multiple value chains.
the cost concept the basis for entering the exchange price into the accounting records?
That statement is true. The cost concept is the basis for entering the exchange price into the accounting records.
Is the cost concept the basis for entering the exchange price into the accounting records?
That statement is true. The cost concept is the basis for entering the exchange price into the accounting records.
Classification of industry on the basis of size?
Classification of industries on the basis of size........... On the basis of size 3 types of industries are there:- 1.Small scale industry 2.Medium scale industry 3.Large scale industry -mohit malviya VIII-'D' SICA.S.S.SCHOOL
What crystal forms the basis for much of the microelectronics industry?
Silicon
Which product grown in provence is the basis for the perfume industry?
iris
Why might collusion be detrimental to consumers?
Collusion is the basis for forming a monopoly. That inhibits the free market or the laws of supply and demand.
What are systemic barriers?
Systemic barriers are obstacles or challenges within a social, economic, or political system that hinder certain groups of people from accessing resources, opportunities, or services on an equal basis. These barriers are often embedded in policies, practices, or norms, and can perpetuate inequality and discrimination. Identifying and addressing systemic barriers is important for creating a more equitable and inclusive society.
Between 1865 and 1900 the basis for economic growth in the US was found in?
heavy industry
In 1998 this state undertook the restructuring of the electric utility industry on a statewide basis?
California
How Social and physical barriers that may prevent equality and inclusion?
Social barriers such as stereotypes, discrimination, and lack of awareness can prevent equality and inclusion by creating prejudices and biases that limit opportunities for certain groups. Physical barriers, such as inaccessible buildings or transportation, can prevent individuals with disabilities from fully participating in society and accessing resources on an equal basis with others. Addressing both social and physical barriers is essential to promoting equality and inclusion for all.
Was Pennsylvania the first state to undertake the restructuring of the electric utility industry on a state-wide basis?
No
What are the principles of GATT?
GATT is the abbreviated form of the General Agreement on Tariffs and Trades. The principles of GATT are 1. World trade should be conducted on a non-discriminatory basis. 2. A country should impose custom tariffs in place of trade barriers to protect its domestic industry. 3. Trade members should use mutual consultations as a way to promote its trading interests with each country. 4. The GATT framework provides the ability to complete negotiations with minimized tariffs and other such trade barriers.
