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They're all competing with each other for business - whether that's commercial or personal banking.

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7y ago

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When a firm has little ability to influence market prices it is said to be in what kind of a market?

Imperfect monopoly


When sellers in a competitive market take the selling price price as given they are said to be?

When sellers in a competitive market take the selling price as given, they are said to be price takers. This means they accept the market price determined by supply and demand without influencing it, as their individual sales contribute only a small portion to the overall market. As a result, they cannot set their own prices and must sell at the prevailing market rate to remain competitive.


How can food processing help in the economy of your country?

A nation's economy can be helped by the development of industries that use a principle called competitive advantage. If the cost to the nation (in terms of what it must give up to perform the tasks of that industry) are lower than those in economies with which it might trade, that nation is said to have competitive advantage. The industry will then stimulate beneficial trade for the nation processing the food. In the current global economic environment, industries that are labor intensive, such as food processing, can be good candidates for this beneficial trade.


Who said a good environment is good business?

Dr: M. swaminadhan


Difference between Competitive Advantage and Comparative Advantage?

Comparative advantage (of a country or firm, for example) is *given* by the access to certain resources that others don't have. Usually this is related to natural resources. I say "access" because it doesn't matter if you are or are not the owner. On the other hand, competitive advantages are *created* by combining different resources, primarily knowledge. In management this is equivalent to "rise barriers" for competitors, in the sense that a true competitive advantage is that one that is difficult to be copied by the competitors (although not impossible.) Due to the nature of the comparative advantages, it is usually said that they provide you a "static" advantage, something that others can surpass by using their competitive advantages, which are said to be "dynamic." Feel free to make corrections to my answer.

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