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What does it mean to say that a firm has no control over prices?
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Under what market structure does the firm have the most control over prices?
Monopoly
What is the economic term that describes the ability of a market participant to influence prices instead of merely being forced to accept market prices?
Market power is the ability of a firm to dictate their own prices without having to succumb to market prices. Market power usually occurs if the firm has control over a large part of the market.
Which market structure is there no control over prices?
Perfect competition
Under which market structure is there no control over prices?
monopoly
Why is it important to monitor the macro-environment of a firm?
It is very important to monitor the macro-environment of a firm as they will directly affect the organization. These are external factors that a firm will not have control over and will affect the performance of the business.
Under what market structure does the firm have the most control over prices?
Monopoly
What is the economic term that describes the ability of a market participant to influence prices instead of merely being forced to accept market prices?
Market power is the ability of a firm to dictate their own prices without having to succumb to market prices. Market power usually occurs if the firm has control over a large part of the market.
Which market structure is there no control over prices?
Perfect competition
Under which market structure is there no control over prices?
monopoly
Why did Spain continue to have problems gaining firm control over Florida after 1783?
cause
Why is it important to monitor the macro-environment of a firm?
It is very important to monitor the macro-environment of a firm as they will directly affect the organization. These are external factors that a firm will not have control over and will affect the performance of the business.
Did OPEC give importing countries more control over the price of oil?
No. It gave oil exporting countries more control over prices.
Why wasn't Spain able to establish firm control over northern Mexico?
Spain was unable to establish firm control over Northern Mexico because:A hostile environment (Mexico's Chihuahuan and Sonoran deserts).A hostile native population (Apache, Navajo, Zuni and Hopi tribes dotted the landscape).
External economies of scale?
Infrastructure (Ex: Access to educated workforce/available roads etc.) It is simply the factors which a firm does not have a control over but that can make a firm more efficient. Roads can reduce transportation costs meaning that the firm is more efficient.
How do economists measure the degree of competition in a market?
_Amount of control a firm or a group of firms have over the total market supply _The amount of influence a firm or group of firms have over market price _The freedom new suppliers have to enter the market
Why are gas prices rising near doomsday in 2012?
Gas Prices are changeing not because of the hoax 2012 stuff. Gas Prices are rising because of Foriegn stuff united states is putting are selfs in to. WE HAVE NO CONTROL OVER GAS PRICES.
What does Chlorokinesis mean?
Control over plant life
