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Explain about the terms in perfect competition.
Perfect Competition:
a. A price-taking producer is a maker whose actions have no consequence onto the market price of the good this sells.
b. A price-taking consumer is a customer whose actions have no consequence onto the market price of the good he or she buys.
c. A perfectly competitive market is a market within which all market contributors are price-takers.
d. A perfectly competitive industry is industries within those producers are price-takers.
CAPITAL MARKETS Markets in which financial resources (money, bonds, stocks) are traded i.e. the provision of longer term finance - anything from bank loans to investment in pe
How does economic theory contribute to managerial decisions?
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