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What exists when a large number of sellers produce products tht are very similar but are perceived by buyers as different?
Wiki User
∙ 13y ago
Monopolistic competition
Wiki User
∙ 13y ago
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Under what market conditions is monopolistic competition possible?
a large number of sellers produce a product or service that is perceived by consumers as being different from that of a competitor but is actually quite similar
Which economic systems has the greatest degree of competition?
Perfect competition. (Many small firms that produce similar products; buyers and sellers have good knowledge of the businesses)
How Resources allocated in economy?
Resources, in a free market, are allocated by buyers and sellers. Buyers determine the quantity determined by their willingness and ability to pay for the products. Prices are determined by supply and demand.
How do sellers differentiate their products under monopolistic competition?
Sellers offer different, rather than identical, products. Each firm seeks to have monopoly-like power by selling a unique product. Product variation is much more common than having identical products. As a result, monopolistic competition is much more common than perfect competition.
Why do organic products tend to be more expensive?
Organic products cost more because of 1. With natural things we can not produce more as per requirement( Demand and supply). 2. Research were taken to produce more with limited land available to developed countries. As a result we started produce more but at the same time our natural food products ( Vegitables) lost their original test and quality. Our land can not produce the good old days agricultural products. 3. To bring the situation back again researcher trying to produce organic products within natural environment. 4. Only limited quantity can be produce and sellers take the advantage of fixing high price. 5. New generation is crazy about organic product and thus fetches high profit to the sellers or producers in the name of organic product. 6. Actually we do not know whether the same land is capable of producing the good old days natural product!
Under what market conditions is monopolistic competition possible?
a large number of sellers produce a product or service that is perceived by consumers as being different from that of a competitor but is actually quite similar
Which economic systems has the greatest degree of competition?
Perfect competition. (Many small firms that produce similar products; buyers and sellers have good knowledge of the businesses)
How Resources allocated in economy?
Resources, in a free market, are allocated by buyers and sellers. Buyers determine the quantity determined by their willingness and ability to pay for the products. Prices are determined by supply and demand.
How do sellers differentiate their products under monopolistic competition?
Sellers offer different, rather than identical, products. Each firm seeks to have monopoly-like power by selling a unique product. Product variation is much more common than having identical products. As a result, monopolistic competition is much more common than perfect competition.
Why do organic products tend to be more expensive?
Organic products cost more because of 1. With natural things we can not produce more as per requirement( Demand and supply). 2. Research were taken to produce more with limited land available to developed countries. As a result we started produce more but at the same time our natural food products ( Vegitables) lost their original test and quality. Our land can not produce the good old days agricultural products. 3. To bring the situation back again researcher trying to produce organic products within natural environment. 4. Only limited quantity can be produce and sellers take the advantage of fixing high price. 5. New generation is crazy about organic product and thus fetches high profit to the sellers or producers in the name of organic product. 6. Actually we do not know whether the same land is capable of producing the good old days natural product!
Where do eBay get their products?
They don't. Ebay is an auction site, and the products are obtained by individual sellers who use the website.
Where can I buy little pet shop toys online?
The best option would be to go to either www.amazon.com or www.ebay.com. Both of these sites will give you many different sellers who will sell many different products from the toy line, giving you the products you want at competitive pricing.
What store locations can be found for mothball odor removers at?
I've linked several online sellers of different products below. You can find a do-it-yourself method on WikiAnswers with a search.
Name three types of market systems?
three types of market systems Perfect competition- this is when there are many buyers and sellers for a particular product, the product is simmilar looking. the cost of investment is small and the product is easy to produce (ie: farming and agricultural products) Monopoly-there is a single seller with no close substitutes, and there is lots of control over the goods price (ie: and electrical company) Oligopoly-this market system is dominated by a few sellers. the products are high cost investments causing difficulties for new companies to join. the products are identical or slightly different (usually advertisements set the differences)(ie: Airlines)
What is there in the simple circular flow model?
Households are sellers of resources and demanders of products.
Which of the following is not a condition for perfect competition?
Sellers offer a wide variety of products
What Apple products were not big sellers?
The very early computers, before they were called Mac.
