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Which market situations in an industry results in the lowest prices for consumers?
perfect competition
What are the characteristics healthy market?
characteristics of a perfect market characteristics of a perfect market characteristics of a perfect market characteristics of a perfect market characteristics of a perfect market characteristics of a perfect market characteristics of a perfect market characteristics of a perfect market characteristics of a perfect market characteristics of a perfect market
Which type of market typically produces the highest level of output at the lowest price to consumers?
Perfect competition ... @DeeWillMafia
What ensures that consumers will be able to purchase products at the lowest possible price?
A perfect concurrency market coupled with complete market knowledge on both parties of consumption. In practice such market is impossible due to carying costs of trade and lack of information.
Why demand curve slope downwards under perfect competition?
Because in order to induce consumers to buy more in a market, price must be reduced. With a lower price, more consumers will be willing and able to purchase the good.
Which of these market situations in an industry results in the lowest prices for consumers?
perfect competition
Which market situations in an industry results in the lowest prices for consumers?
perfect competition
What are the characteristics healthy market?
characteristics of a perfect market characteristics of a perfect market characteristics of a perfect market characteristics of a perfect market characteristics of a perfect market characteristics of a perfect market characteristics of a perfect market characteristics of a perfect market characteristics of a perfect market characteristics of a perfect market
Which type of market typically produces the highest level of output at the lowest price to consumers?
Perfect competition ... @DeeWillMafia
Are there benefits to competition?
There are so many benefits that are associated with competition in a market. Some of the main benefits include quality products, competitive prices, consumers are not exploited and so much more.
What are the benefits of a global market and why?
It allows consumers to access the widest possible range of products and services and suppliers to access the largest possible customer base. A global market allows countries with poor populations to thrive from consumers in rich countries.
The difference in marketing a company's product to organisations rather than consumers?
When a company markets to another business, they must include more technical and expert details. When they market to consumers, providing the features and benefits are sufficient.
What is selective perception and how does it influence consumer behavior?
Selective Perception is an excellent marketing tool utilizing a focus target market in order to gain a greater share of the wealth from a market by incorporating stimuli that is focused on the trigger or triggers the consumers of the focus target market share. The commonality among the consumers is what the marketer benefits from as the consumer or consumers view the trigger or triggers as a current or potential demand or need.
What ensures that consumers will be able to purchase products at the lowest possible price?
A perfect concurrency market coupled with complete market knowledge on both parties of consumption. In practice such market is impossible due to carying costs of trade and lack of information.
Why demand curve slope downwards under perfect competition?
Because in order to induce consumers to buy more in a market, price must be reduced. With a lower price, more consumers will be willing and able to purchase the good.
What are contestable consumers in the electricity market?
These consumers have the choice of buying electricity either from retailers or from the wholesale electricity market.
What are the characteristics of a perfectly competitive market and a monopoly market?
characteristics of perfectly competitive market includes 1.Homogeneous products i.e identical in shape,size,taste,color,e.t.c 2.perfect knowledge to both consumers and producers 3.no transport costs incurred 4.perfect mobility of factors of production 5.common prices for identical goods in the market. 6.
