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Q. What do you mean by Market Structure?
Market economy pricing is conditioned by market structure. There are various forms of market structures. Perfect competition is accorded great importance as a market structure. As a theoretical mode, neoclassical and classical economists presume conditions of perfect competition.
The market is an assemblage of conditions in that sellers and buyers come in contact for the purpose of exchange. Market situations differ in their structure. Different market structures channel the behaviour of sellers and buyers (firms). Further, different prices and trade volumes are fashioned by different market structures. Again, all types of markets aren't equally efficient in the exploitation of resources and consumers' welfare also differs accordingly. Therefore the aspects of pricing process must be analysed in relation to various types of market.
NATIONAL INCOME AND STANDARDS OF LIVING Standard of living refers to the quantity of goods and services enjoyed by a person. These goods may be provided publicly, such as in t
in the context of an environment of business,state briefly the implication of (1) Ee>1.....(2)Ee=1......(3)Ee=0.......(4)Ee
THE MONETARY ACCOUNT Also called official financing, this comprises the financial transactions of the government (handled by the central bank) needed to offset any net outflow
what is deadweight loss calculation?
International Commodity Agreements (ICAS) International Commodity Agreements (ICAS) represents attempts to modify the operation of the commodity markets so as to achieve vario
assignment
Another vital relationship that is often referred to in economic analysis is the relationship between consumption expenditure andprice elasticity. From the law of demand, we know t
In the short-run the firm can't modify or change overhead factors like equipment, plant and scale of its organisation. In the short-run output can be decreased or increased by chan
Q. Explain the concept of demand function? Identical to the demand theory which pivots around the concept of demand function, theory of production revolves around the concept o
Question: i) Briefly explain the importance of forecasting for managers? ii) To what extent will managers rely on surveys in business forecasting? iii) What do you mea
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