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.
Answer:
just racism in general. since when are their different types.
Explanation:
To be or not to be that is the question
Answer:
Select specific target markets.
Explanation:
Management will investigate the capability of the organization in the last stage or fifth stage of the target market selection process, which is the "select specific target markets". In this stage, there are certain issues that must be resolved and they are;
1. Are there differences in the needs of customers valid to warrant using market segmentation?
2. Which segment should the organization participate?
3. And lastly, are the resources and skills needed to effectively compete in the target market available to the organization at the moment?
