Classification 4 Markets

Classification 4 Markets Markets may he classified : (0 I on the basis of an’a as lorala nd world ilia the basis of time. as  any particular day or moment. market, covering a generation; and ) on the basis of nature of here in as pIr mad”‘I, and im...

Perfect Competition: Conditions

Oligopoly  When in a market, there arc only a few sellers of a product, it is called The basic characteristic of an oligopolistic situation is the fact that every seller can exercise an important influence on the price output policies of his rivals. This is due to the...

Perfect Competition: Conditions

Perfect Competition: Conditions  There is said to be’ perfect competition ery purchaser and seller is so sn~a\l relative to the entire market that he cannot influence the market price hy increasing or decreasing his purchases or his output. Perfect competition...

MARKET AND MARKET STRUCTURES

MARKET AND MARKET STRUCTURES The father of economics Adam Smith in his book ‘The Theory of Moral Sentiments’ (1759), wrote about the main characteristics of human beings. According to him a human being is very selfish or posses self love as well as there...

PROBLEMS AND APPLICATIONS

PROBLEMS AND APPLICATIONS 1. Your roommate’s long hours in chern lab finally paid off-she discovered a secret formula that lets People do an hour’s worth of studying in 5 minutes. So far, she’s sold 200 doses and faces the following average total...