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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. 
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The narrator concludes that young people were influenced by tom based on the fact that:_____.
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The narrator concludes that young people were influenced by tom based totally on the truth that: prompted him to cut matters off.

Meaning for influenced: to have an effect on or modify with the aid of oblique or intangible manner She tried to steer his decision. substantially prompted by using my dad and mom. To have an impact on the circumstance or improvement of productivity changed into influenced by means of employee delight.

The influence is defined as having an effect on a person or factor. An example of an effect is for an excessive college student to complete all of his assignments on time, thereby making his little brother need to do the same. a person or element exerting such strength or action. He has been a superb impact on the voters for the duration of the elections.

The difference between influence and effect is that impact is the energy to affect, control or manipulate something or someone; the ability to trade the development of fluctuating things including conduct, mind, or selections even as the impact is the result or final results of a cause see under .

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