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.
4, but it all depends on what house
Answer:
<em>O San Gabriel</em>
Explanation:
The Rebellion against the Mission of the Saintly Prince the Archangel,<em> San Gabriel</em> of the Temblors, 1785.
<u><em>I hope this helps and have a good day!</em></u>
Answer:
--helps bind people together by creating bonds of mutual obligation.
---is only appropriate when people do not expect anything in return for their gift.
Explanation:
Reciprocity is the act of giving a person a gift without expecting something in return. Generalized reciprocity creates a moral obligations among the people in the society. This is usually practiced among common friends and people who are closely attached to one another.
When there is a reciprocity, a smile or love or kindness or thank you is always included in the exchange. It binds the people together and bring them close top each other in the society by binding them with mutual obligations.
