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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.
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.
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
In a market or capitalist economy who makes the economic decisions?
The people in the market make these decisions on an individual basis.
How do you define market and explain how markets are classified?
Market in Economics is the result of contanct between the buyers and sellers, as a result of which one product of a given quantity and trade mark is brought and sold at one place. Types of markets 1.on the basis of place or area , market is classified into three types: i)local market, ii) national market and iii)international market. 2.on the the basis of time market is classified into four types: i)market period, ii)short period, iii)long period and iv)secular market. 3.on the basis of degree of competition market is classified into three types: i) Perfect competition ii) Imperfect competition and iii) Monopoly
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.
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.
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
Which product grown in provence is the basis for the perfume industry?
iris
Are barriers good or bad things?
Barriers can serve both positive and negative purposes. In some cases, barriers protect us from harm or help maintain boundaries. However, they can also prevent growth and hinder progress if they limit our potential or restrict us from opportunities. It's important to assess barriers on a case-by-case basis to determine their impact.
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
Was Pennsylvania the first state to undertake the restructuring of the electric utility industry on a state-wide basis?
No
What crystal forms the basis for much of the microelectronics industry?
Silicon is the crystal that forms the basis for much of the microelectronics industry due to its semiconductor properties, which allow for the manipulation of electrical current. Silicon wafers are used in the production of integrated circuits and other electronic components.
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.
