All categories

3 years ago

What necessary condition for the presence of competition in a market?

Business

2 answers:

Lady_Fox [76]3 years ago

6 0

Answer: See explanation below.

Explanation: The following are necessary conditions for competition in a market.

1. There are many firms that produce identical products or services. This will foster competition among the firms.

2. There and many buyers available to buy a particular product or service, and there are also many sellers who are ready to sell a product or service.

3. Free entry and free exit of the market. This means that there a little or no restrictions for entering or leaving a market. Firms can come and go as they please.

4. Presence of relevant information to buyers and sellers in order that they might make rational buying and selling decisions, especially information about price.

5. There is little or no government regulation.

Arlecino [84]3 years ago

3 0

Answer:

There are several conditions which are required for there to be a perfect competition in a market or economy.

Let me highlight those, there should be many firms in the market which have identical product offerings with not so variable prices. Secondly, the size of the firms on the market should not be big in terms of its sales. Thirdly, the market forces determine the demand and supply in the market. Fourthly, firms should be able to easily enter and exit the market as per their will. Lastly, there are a number of sellers and buyers in the market for a particular product.

Hope this helps you.

Good Luck.

You might be interested in

Television has had a positive impact on the growth of commercial sports because it

mel-nik [20]

Television has contributed a positive impact and has been proven effective in helping with the increase of commercial sports because it acts as a tool for recruiting new spectators as well as fans. Furthermore, the globalization of commercial sports can also be attributed to the fact that sports organizations are interested in expanding their markets.

7 0

3 years ago

Which of the following answer options are your employer's responsibility? (OSHA)

Dmitrij [34]

Answer: A, B, and C. ALL OF THE ABOVE!

Explanation:

They're all the correct answer.

3 0

2 years ago

A cash register that usually holds about $150 currently has $500 in it. What would be a good idea?

solniwko [45]

Your answer is
D. Cash drop

7 0

3 years ago

Read 2 more answers

In a business report, the conclusions present suggestions on how the problem might be solved Group of answer choices True False

Yuki888 [10]

Answer:

False

Explanation:

In a business report, the conclusions section explains what all the collected information means and summarizes the most important parts of the report.

While the recommendations section actually presents a list of suggestions and/or specific actions that should be taken.

7 0

3 years ago

In the context of business markets, _____ represents the fact that business buyers tend to be larger in size but fewer in number

tigry1 [53]

Answer:

concentrated demand

Explanation:

Business to business (B2B) salespeople have a very different job than regular salespeople, since every client matters and every client is VIP. B2B buyers know exactly what they want, and they will demand the best possible product at the least possible cost, specially if they are large corporations. The advantage of B2B sales is that one big sale can make a huge difference to your company and yourself. For example, companies that supply auto parts generally have only a few clients, since there are less than 10 car manufacturers in the US, but any sale involves millions of units.

7 0

3 years ago