1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Lyrx [107]
3 years ago
8

Describe characteristics and give examples of perfect competition

Social Studies
1 answer:
kvv77 [185]3 years ago
4 0
Perfect competition is the simplest market structure, where the market is assumed to be in equilibrium and that all sellers sell the same product at the same price. The four conditions for perfect competition are: 

1. There are many buyers and sellers in the market so that no one individual or seller can influence the price of the products, goods, and services. 
2. Identical products are offered by the sellers
3. Both the buyers and the sellers are well-informed about the products and want to maximize profit.
4. Entry and exit to and from the market can be done freely by the sellers and buyers.

There is no market which displays 100% perfect competition. However, markets exhibiting nearly perfect competition do exist. These include street food vending and agricultural markets. 
You might be interested in
In your response, be sure to address all parts of the question. Use complete sentences; an outline or bulleted list alone is not
Alborosie

Answer:

Explanation:

In your response, be sure to address all parts of the question. Use complete sentences; an outline or bulleted list alone is not acceptable.

“Americans often preferred not to think about the terrible war in Europe [the First World War]. By 1917, however, US citizens realized that ignoring the war or pretending it had nothing to do with them imperiled their future.

“. . . They realized that they had run out of options. Between 1914 and 1917, Americans had variously hoped that their nation could serve as an arbiter (as it had during the Russo-Japanese War, earning Theodore Roosevelt the country’s first Nobel Peace Prize), the leader of a global peace movement, the center of international arbitration, and the advocate of worldwide disarmament. By early 1917, however, the majority had come to two conclusions. First, as Charles Fremont Taylor, the editor of a Philadelphia-based magazine, articulated, ‘no nation can be a hermit in these days of steamships, railroads, telegraphs, ocean cables, wireless, etc.’ They no longer believed, as they had in 1914, that the Atlantic Ocean provided the country with sufficient protection from Europe’s wars. Second, they believed that their leaders had tried every option short of war only to find the country in an even more perilous geopolitical position.”

Michael S. Neiberg, historian, The Path to War: How the First World War Created Modern America, 2016

Using the excerpt, answer (a), (b), and (c).

(a) Briefly describe ONE piece of evidence used in the excerpt to support the argument made in the excerpt.

(b) Briefly explain how ONE piece of evidence not mentioned in the excerpt could be used to support, modify, or refute the argument in the excerpt.

(c) Briefly explain how ONE process discussed in the excerpt compares with the earlier United States decision to participate in the Spanish-American War.

Answer:



Explanation:



6 0
3 years ago
Raven is leading a newly created team. The team is diverse, and most team members come from departments that have little interna
Feliz [49]

The best thing that Raven can do to position such a diverse team that comes from different departments for success is to b. acknowledge that people bring different values and perspectives and encourage them to speak openly.

<h3>Why should Raven acknowledge diversity?</h3>

There is strength in diversity because the different people will be able to bring unique things to the table.

Encouraging them to speak freely on these things will allow for the team to develop multiple ways of dealing with things which will increase their chances of success.

In conclusion, option B is correct.

Find out more on diversity at brainly.com/question/4697836.

3 0
2 years ago
Summarize the concerns farmers had with flooding from the river in Mesopotamia?
saveliy_v [14]
The floods could wash away all of their crops
5 0
3 years ago
Read 2 more answers
What is the single most common traumatic event that can lead to ptsd?
timofeeve [1]
The answer is the sudden unexpected death of a loved one. In addition, Post-traumatic stress disorder or as called as (PTSD) is a mental health condition that is prompted by a frightening event in which either experiencing it or witnessing it. The indications may consist of flashbacks, hallucinations and severe anxiety and as well as irrepressible thoughts about the happening.
5 0
3 years ago
The Appalachian Mountains rise to heights of about __________ feet. 2,000 2,500 3,000 3,500
snow_lady [41]

The Appalachian Mountains rise to heights of about 3,000 feet.

5 0
3 years ago
Other questions:
  • Why were settlers in Rhode Island free to worship as they saw fit?
    10·1 answer
  • Why did china and japan react as they did to the europeans' desire to trade with them
    13·1 answer
  • what point is emerson making about nature when he writes 'our attitude toward the stars would change if they appeared only once
    15·1 answer
  • The ancient Athenians experienced severe storms that the god Poseidon sent. To appease him, women in
    15·1 answer
  • How can you determine if the news is true or fake ? ​
    12·1 answer
  • At its heart, the Scopes Trial was a clash between
    15·2 answers
  • A town recently experienced a population decrease in 3 to 4 sentences explain the effect of this population decrease on the dema
    11·1 answer
  • Which or the following is not a major city in Canada
    10·1 answer
  • Which issue did the Land Ordinance of 1785 address?
    8·1 answer
  • How do you get away with a m.u.r.d.e.r just asking for a friend :)
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!